Key benchmark indices ended near the day’s high after stellar rally on Monday, supported by positive global shares. Easing crude oil prices and strengthening rupee also boosted sentiment. IT major Infosys was the biggest contributor to index gains. The stock got a boost after encouraging Q3 numbers. India’s industrial output (IIP) grew 1.8% in November against a contraction of 3.8% in October, according to the data released by the government.
Global Markets
Shares of Chinese electric-vehicle makers including Warren Buffett-backed BYD Co. jumped after the government signaled it won’t continue reducing subsidies for the industry at the same pace this year. Miao Wei, the minister for industry and information technology, told an audience in Beijing on Saturday EV-purchase subsidies won’t be cut July 1, like they were on that date last year.
Nifty Chart
Nifty Outlook
Nifty50 closed higher at 12329.55 level, +72.75 points, or 0.59 per cent. Nifty Support : 12290 and 12270 Resistance : 12350 and 12370.
