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Nifty reclaims 4300; Tata Motors, DLF in lead

This article was posted on Jun 19, 2009 and is filed under Market News

MUMBAI: Equities rebounded on Friday on the back of positive cues from overseas markets. Realty and capital goods fronted the upmove. Secondline counters were trading on a positive note as well.

“We expect the market to bottom out today and expect buying at lower levels. We are positive on the market for today. Nifty is expected to trade between 4203-4108 on the lower side while resistance lies between 4297-4360,” said Religare Securities in a note.

Bombay Stock Exchange’s Sensex opened 158 points higher at 14424 while National Stock Exchange’s Nifty was trading at 4306, higher by 56.10 points from the previous close.

Wall Street was back in action after its three day losing streak spurred by encouraging economic data which boosted investor sentiment. The Dow Jones Industrial Average rose 53.28 points or 0.63 percent to 8,550.46, Nasdaq ended on a flat note losing a marginal 0.34 points or 0.02 per cent to 1,807.72 and the Standard & Poor’s 500 index advanced 7.32 points or 0.80 per cent to finish at 918.03.

Asian markets limped back to the positive terrain tracking advances in US equities. The Nikkei climbed 0.3 per cent, Topix inched 0.38 per cent higher, Hang Seng rose 0.3 per cent and Straits Times looked up 1.07 per cent.

source: Economictimes

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