Key equity benchmarks surged higher after six sessions of non stop selling as the rate cut by RBI didn’t cheer the market. Global cues remains supportive for the domestic indices as the European shares were trading in green. Nifty surged more than one and half percent to close at 11362.30. Banking shares were the major gainers of the day while IT shares were the major losers of the day.
Global Markets
Kansai Electric Power Co Inc’s chairman and president would resign to take responsibility for a graft scandal that has rocked Japan’s second-largest utility. European stocks edged lower in quiet trading as tensions heightened between the United States and China ahead of their crucial trade negotiations, while more uncertainty over Britain’s EU exit also weighed on sentiment. European STOXX 600 index was down 0.2%.
Nifty Chart
Nifty Index closed at 11313.30 above 200 Day DMAÂ 1.68% up on 09.10.2019. Nifty is looking strong on daily chart.
Nifty Support : 11200-11100, Resistance : 11400-11500
