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Nifty recovers to end flat

This article was posted on Nov 17, 2009 and is filed under Market News

Nifty today managed to close above 5050 levels, tough during the day it felt like that we might been a correction mode. After starting off with a negative bias and staying in the red till the last trading hour, a sudden bout of buying in the IT, Banking, Capital Goods and the Metals stocks aided the benchmark indices to end with mild gains.

Markets to bounced in the afternoon, nifty recovered almost 40 points to close flat. Sensex recouped 170 points to close above the 17,000.

Nifty faces resistance at 5080 levels, if we manage this level, then we could easily see 5150 levels in the near term.

IT stocks were in limelight throughout the day, stocks like BF utilities, Infosys, TCS and Wipro were among the star performers, even the mid-cap IT stocks like Polaris, Mphasis and MindTree were in demand.

The index heavyweight Reliance Industries which held its Annual General Meeting today put on a disappointing show, the stock ended in the red, down by 0.7% at Rs 2,133.

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