The domestic equity market ended the last trading day of the calendar year 2018 (CY18) on a flat note.
The S&P BSE Sensex closed the session at 36,068, down 8 points, while, the National Stock Exchange's (NSE's) Nifty50 index added just 3 points to settle at 10,863.
The broader market indices, however, outperformed their headline peers, with the S&P BSE MidCap index gaining 78 points or 0.5 per cent to settle at 15,438, and the S&P BSE SmallCap index rose 0.7 per cent or 101 points to end at 14,707 level.
MARKET IN 2018
The Sensex gained 5.91 per cent during the year gone by, while the 50-share index of NSE gained 3.15 per cent.
Among sectoral indices on NSE, the Nifty Bank index rose 6.35 per cent during the year. In the broader market, the S&P BSE MidCap index fell 13.38 per cent during the year, while the S&P BSE SmallCap tumbled 23.53 per cent.
Global Markets
Asian stocks rose on Monday as hints of progress on the Sino-US trade standoff provided a rare glimmer of optimism in what has been a rough year-end for equities globally.
Sentiment had brightened just a touch when US President Donald Trump said he held a "very good call" with China's President Xi Jinping on Saturday to discuss trade and claimed "big progress" was being made.
MSCI's broadest index of Asia-Pacific shares outside Japan added 0.6 per cent but was still down 16 percent for the year. Japan's Nikkei was closed for a holiday having ended the year with a loss of 12 per cent. Across the region, the worst performer of the year was the index of Chinese blue chips, which lost a quarter of its value.
(with Reuters inputs)
CATCH ALL THE LIVE UPDATES
04:00 PM
S&P BSE Sensex: Top gainers and losers
03:37 PM
Market at close
The S&P BSE Sensex ended flat at 36,068, down 8 points while NSE's Nifty50 index settled at 10,863, up just 3 points.
03:25 PM
Butterfly Gandhimathi up 20% as CRISIL upgrades rating for bank facilities
Shares of Butterfly Gandhimathi Appliances were locked in the upper circuit of 20% at Rs 299 on the BSE, after the credit rating agency CRISIL revised its outlook on the long- term bank facilities of the company to 'Positive' from 'Stable’.
Till 03:00 pm, around 28,000 equity shares changed hands and there were pending buy orders for 6,989 shares on the BSE, the exchange data shows. READ MORE
03:07 PM
From Bezos to Zuckerberg: World's billionaire winners and losers of 2018
The popularity of Fortnite, the phenomenon that forced some into video-game rehab, gave gamemaker Tim Sweeney a $7.2 billion fortune this year. Autry Stephens has $11.4 billion after his closely held Endeavour Energy Resources LP attracted bids that valued the oil company at as much as $15 billion. READ MORE
02:54 PM
EPFO subscribers may be allowed to invest more in equity markets in 2019
Subscribers of the retirement fund body EPFO may get an option in the new year to invest more of their savings in the equity market, besides a host of other social security benefits and digital tools to manage their funds.
At present, the Employees' Provident Fund Organisation (EPFO) invests up to 15 per cent of its investible deposits into the exchange-traded funds (ETFs) and so far such investments total about Rs 550 billion. READ MORE
02:43 PM
Metals, PSU banks, realty top sectoral gainers
02:34 PM
Market Check
Index Current Pt. Change % Change
S&P BSE SENSEX 36,087.11 +10.39 +0.03
S&P BSE SENSEX 50 11,374.62 +10.91 +0.10
S&P BSE SENSEX Next 50 33,049.14 +167.68 +0.51
S&P BSE 100 11,169.70 +17.30 +0.16
S&P BSE Bharat 22 Index 3,496.30 +4.53 +0.13
02:16 PM
BHEL bags Rs 3.5k cr order for setting up 660 MW thermal unit in West Bengal
State-run BHEL on Monday said it has bagged an order worth Rs 3,500 crore for setting up a 660 MW supercritical thermal power plant in West Bengal. The order by West Bengal Power Development Corporation (WBPDCL) entails setting up a 660 MW Sagardighi Thermal Power Project at Manigram village in Murshidabad district of West Bengal, BHEL said in a statement. READ MORE
02:03 PM
After staying range-bound, gold likely to trade with an upward bias in 2019
After staying range-bound for several years, gold is expected to trade with an upward bias in 2019. A decade-long bull run in gold from 2001 to 2011 when it gained over six times, was followed by a 40 per cent decline by 2015.
Since then it has traded in a range between $1,150 and $1,350 per ounce in international markets. In 2018, prices are still lower by 1.9 per cent in dollar terms but in India gold went up 7.9 per cent from Rs 29,240 to Rs 31,550 per 10 gm, due to rupee depreciation. READ MORE
01:48 PM
Tube Investments up for third straight day; stock hits new high
Shares of Tube Investments of India, a Murugappa Grou company, were trading higher for the third straight day, rising 5% to Rs 359 per share, hitting a new high on the BSE in an otherwise range-bound market, on expectations of strong earnings growth. The stock surpassed its previous high of Rs 350 touched on December 13, 2018, in intra-day trade. READ MORE
01:37 PM
ICRA maintains stable year-end outlook for the steel sector
ICRA has given a stable outlook for the steel sector, in its year end assessment of the sector. The Government’s thrust on infrastructure, in particular towards affordable housing, power transmission, and the Railways in the Union Budget 2018-19 is likely to keep domestic steel consumption growth favourable in the medium term, which is expected to grow by 7 per cent during FY2019 as well as FY2020.
01:25 PM
WEB EXCLUSIVE | Only 1 stock in the BSE 500 pack gave over 100% returns in CY18
The equity market had quite a rough ride in the calendar year 2018, owing to rising interest rates, sharp increase in oil prices and a consistent decline in the value of the rupee. This apart, trade war tensions between two of the biggest economies in the world — the US and China — and a host of unfavourable developments back home, ranging from PNB scam to IL&FS crisis triggering a massive sell-off in the NBFC space, dented investor sentiment in a big way. READ MORE
01:10 PM
SAURABH MUKHERJEA | From stock markets to banking system, what to expect in Lok Sabha poll year
Opportunities Data clearly shows that the political affiliation of the government has little or no impact on India’s economy (since there are almost no ideological differences regarding economic policy between India’s main political parties). READ MORE
12:46 PM
Metals may recover on positive oil demand-supply equation in 2019: Experts
After a year of downturns, resource commodities are expected to recover largely on the back of China’s economy recovering in 2019 on the back of government-infused stimulation and extension of production cuts by oil producing countries. Metals are likely to recover on positive demand-supply equation, while experts say crude oil may have bottomed out, even as the annual average price may be lower than in 2018. READ MORE
12:39 PM
Asian Granito nears 52-week low; stock slips 13%
Shares of Asian Granito India slipped 13% to Rs 162 per share on the BSE in intra-day trade after the company's promoter and managing director Mukeshbhai Patel was arrested by Directorate of Revenue Intelligence on Friday for a case related to an amount of Rs 35 million. Patel was released on bail on Saturday, the company said in a press release. READ MORE
12:17 PM
Lost money on emerging Asian markets? Be warned - 2019 may bring more pain
If you lost money on emerging Asian bonds and currencies this year, be warned: the first half 2019 may see more of the same. In what could be an unwelcome replay, risk assets are likely to remain at the mercy of the U.S.-China trade war, a messy Brexit and rising U.S. interest rates. READ MORE
12:03 PM
Market check
Index Current Pt. Change % Change
S&P BSE SENSEX 36,085.66 +8.94 +0.02
S&P BSE SENSEX 50 11,374.71 +11.00 +0.10
S&P BSE SENSEX Next 50 33,075.41 +193.95 +0.59
S&P BSE 100 11,171.06 +18.66 +0.17
S&P BSE Bharat 22 Index 3,497.66 +5.89 +0.17
11:54 AM
Investing in mid-cap is likely to be a roller-coaster ride in 2019: Experts
In a growth market like India, chasing outperformance often sends investors looking for ideas in the mid- and small-cap space. However, as mid-caps end 2018 with their worst seven-year performance; fund managers' ability to beat benchmarks (also called alpha) is facing some serious questions.
While 2019 is likely to remain volatile, fund managers say the correction opens up opportunities as quality names had run up into ‘overvalued’ territory. READ MORE
11:48 AM
Top gainers in BSE 500:
COMPANY PRICE() CHG() CHG(%) VOLUME
KIOCL 162.95 14.45 9.73 6850
I T D C 321.25 17.60 5.80 15294
NAVKAR CORPORAT. 58.60 3.00 5.40 104153
BLISS GVS PHARMA 164.00 7.75 4.96 268009
JINDAL STAIN. 34.50 1.50 4.55 257435
» More on Top Gainers
11:33 AM
Oil check
Oil prices climbed on the last trading day of the year on Monday, mirroring gains in stock markets, but were on track for the first yearly decline in three years amid lingering concerns of a persistent supply glut. Hints of progress on a possible US-China trade deal helped bolster sentiment, which has been battered by concerns over a weaker global economic outlook.
Brent crude futures - the international benchmark for oil prices - rose 56 cents, or 1.1 per cent, to $53.77 a barrel. Brent declined nearly 20 per cent in 2018 following two years of growth. US West Texas Intermediate (WTI) crude futures were at $45.77 a barrel, up 44 cents, or 1 per cent, from their last close. WTI is down about 24 per cent this year.
11:22 AM
L&T firms up after winning orders
Larsen & Toubro rose 0.56% to Rs 1447.05 at 10:56 IST on BSE after the company said its construction arm won orders worth Rs 2084 crore. The announcement was made during trading hours today, 31 December 2018. READ MORE
11:09 AM
NEWS ALERT Bank of Baroda hikes base rate by 10 bps to 9.4 per cent
11:07 AM
Motilal Oswal Financial Services on automobiles
We prefer PVs over 2Ws and CVs due to their stronger volume growth and a stable competitive environment. Our top picks in autos are Maruti Suzuki India, Eicher Motors and Motherson Sumi among large caps, and Exide Industries and Endurance Technologies among midcaps.
11:02 AM
MARKET COMMENTARY | Nitin Singh, MD & Head, Standard Chartered Wealth Management, India
As we head into 2019, Indian markets are likely to remain volatile. We take a balanced approach to investing being selective in taking risk (diversified equity exposure) while keeping a greater margin of safety (preference for bonds) and keeping some dry power for tactical opportunities during the year (cash a core holding).
11:00 AM
Muthoot Finance nears record high; surges 25% in two months
Shares of gold loan company Muthoot Finance hit a fresh 52-week high of Rs 512 apiece, up 1.4% on Monday. The stock has surged 25% in the past two months, on improved assets quality and expectations of healthy growth going forward. The stock is 3% away from its record high level of Rs 526 touched on September 13, 2017, on the BSE in intra-day trade. READ MORE
10:41 AM
Sebi to ramp up market surveillance, data warehouse tool to identify frauds
Regulator Sebi is planning to beef up its market surveillance system as well as its tool for speedy analysis of trade data, which identifies possible violations such as insider trading, share price manipulation and front running.
In this regard, Securities and Exchange Board of India (Sebi) has invited applications from the interested companies to provide IT services for the maintenance of its integrated market surveillance system (IMSS), data warehousing and business intelligence system (DWIBS). READ MORE
10:23 AM
STOCK OF THE DAY | Bank of India hits 7-month high on government fund infusion plan
Shares of Bank of India (BOI) hit a seven-month high of Rs 105, up 2% on the BSE in early morning trade, after state-owned bank Saturday said the government has decided to infuse Rs 100.86 billion in the bank as part of capital infusion. The stock was trading at its highest level since May 29, 2018. READ MORE
10:07 AM
RECAP 2018 | Gold ends 2018 on a strong note as growth concerns spur demand for haven
Spot bullion is holding near a six-month high after topping $1,280 an ounce, and the metal is set for the best monthly gain in almost two years. December’s rally has pared an annual decline, the first full-year loss since 2015. READ MORE
09:55 AM
Options contracts see a rise in activity ahead of 2019 Lok Sabha polls
Activity is maximum in put options at a strike price of 9,000 and 10,500 on the Nifty50. Put options at both these levels are out-of-the-money, which means they would be profitable only if the benchmark Nifty50 falls significantly from its Friday’s close of 10,859.90. READ MORE
09:47 AM
Chart Reading: Sensex, Nifty and Nifty Bank heading towards breakout levels
NSE Nifty50: The index rose by 80 points on Friday rising above 10,850 to close at 10,859. It finished the week with a gain of 1 per cent. The current level is near 100-DMA, located at 10,914 as per the daily chart. A recovery from 10,534 with an immediate gap up close and a red candle crossing high of 10,834 is heading towards breakout level. The 100-DMA of 10,914 along with recent high of 10,985 stay as the immediate resistance level. The support comes at 10,750 levels followed by 10,680. The trend indicates Nifty is heading towards breakout level of 10,984, chart suggests. Click here to read further
The S&P BSE Sensex closed the session at 36,068, down 8 points, while, the National Stock Exchange's (NSE's) Nifty50 index added just 3 points to settle at 10,863.
The broader market indices, however, outperformed their headline peers, with the S&P BSE MidCap index gaining 78 points or 0.5 per cent to settle at 15,438, and the S&P BSE SmallCap index rose 0.7 per cent or 101 points to end at 14,707 level.
MARKET IN 2018
The Sensex gained 5.91 per cent during the year gone by, while the 50-share index of NSE gained 3.15 per cent.
Among sectoral indices on NSE, the Nifty Bank index rose 6.35 per cent during the year. In the broader market, the S&P BSE MidCap index fell 13.38 per cent during the year, while the S&P BSE SmallCap tumbled 23.53 per cent.
Global Markets
Asian stocks rose on Monday as hints of progress on the Sino-US trade standoff provided a rare glimmer of optimism in what has been a rough year-end for equities globally.
Sentiment had brightened just a touch when US President Donald Trump said he held a "very good call" with China's President Xi Jinping on Saturday to discuss trade and claimed "big progress" was being made.
MSCI's broadest index of Asia-Pacific shares outside Japan added 0.6 per cent but was still down 16 percent for the year. Japan's Nikkei was closed for a holiday having ended the year with a loss of 12 per cent. Across the region, the worst performer of the year was the index of Chinese blue chips, which lost a quarter of its value.
(with Reuters inputs)
CATCH ALL THE LIVE UPDATES
04:00 PM
S&P BSE Sensex: Top gainers and losers
03:37 PM
Market at close
The S&P BSE Sensex ended flat at 36,068, down 8 points while NSE's Nifty50 index settled at 10,863, up just 3 points.
03:25 PM
Butterfly Gandhimathi up 20% as CRISIL upgrades rating for bank facilities
Shares of Butterfly Gandhimathi Appliances were locked in the upper circuit of 20% at Rs 299 on the BSE, after the credit rating agency CRISIL revised its outlook on the long- term bank facilities of the company to 'Positive' from 'Stable’.
Till 03:00 pm, around 28,000 equity shares changed hands and there were pending buy orders for 6,989 shares on the BSE, the exchange data shows. READ MORE
03:07 PM
From Bezos to Zuckerberg: World's billionaire winners and losers of 2018
The popularity of Fortnite, the phenomenon that forced some into video-game rehab, gave gamemaker Tim Sweeney a $7.2 billion fortune this year. Autry Stephens has $11.4 billion after his closely held Endeavour Energy Resources LP attracted bids that valued the oil company at as much as $15 billion. READ MORE
02:54 PM
EPFO subscribers may be allowed to invest more in equity markets in 2019
Subscribers of the retirement fund body EPFO may get an option in the new year to invest more of their savings in the equity market, besides a host of other social security benefits and digital tools to manage their funds.
At present, the Employees' Provident Fund Organisation (EPFO) invests up to 15 per cent of its investible deposits into the exchange-traded funds (ETFs) and so far such investments total about Rs 550 billion. READ MORE
02:43 PM
Metals, PSU banks, realty top sectoral gainers
02:34 PM
Market Check
Index Current Pt. Change % Change
S&P BSE SENSEX 36,087.11 +10.39 +0.03
S&P BSE SENSEX 50 11,374.62 +10.91 +0.10
S&P BSE SENSEX Next 50 33,049.14 +167.68 +0.51
S&P BSE 100 11,169.70 +17.30 +0.16
S&P BSE Bharat 22 Index 3,496.30 +4.53 +0.13
02:16 PM
BHEL bags Rs 3.5k cr order for setting up 660 MW thermal unit in West Bengal
State-run BHEL on Monday said it has bagged an order worth Rs 3,500 crore for setting up a 660 MW supercritical thermal power plant in West Bengal. The order by West Bengal Power Development Corporation (WBPDCL) entails setting up a 660 MW Sagardighi Thermal Power Project at Manigram village in Murshidabad district of West Bengal, BHEL said in a statement. READ MORE
02:03 PM
After staying range-bound, gold likely to trade with an upward bias in 2019
After staying range-bound for several years, gold is expected to trade with an upward bias in 2019. A decade-long bull run in gold from 2001 to 2011 when it gained over six times, was followed by a 40 per cent decline by 2015.
Since then it has traded in a range between $1,150 and $1,350 per ounce in international markets. In 2018, prices are still lower by 1.9 per cent in dollar terms but in India gold went up 7.9 per cent from Rs 29,240 to Rs 31,550 per 10 gm, due to rupee depreciation. READ MORE
01:48 PM
Tube Investments up for third straight day; stock hits new high
Shares of Tube Investments of India, a Murugappa Grou company, were trading higher for the third straight day, rising 5% to Rs 359 per share, hitting a new high on the BSE in an otherwise range-bound market, on expectations of strong earnings growth. The stock surpassed its previous high of Rs 350 touched on December 13, 2018, in intra-day trade. READ MORE
01:37 PM
ICRA maintains stable year-end outlook for the steel sector
ICRA has given a stable outlook for the steel sector, in its year end assessment of the sector. The Government’s thrust on infrastructure, in particular towards affordable housing, power transmission, and the Railways in the Union Budget 2018-19 is likely to keep domestic steel consumption growth favourable in the medium term, which is expected to grow by 7 per cent during FY2019 as well as FY2020.
01:25 PM
WEB EXCLUSIVE | Only 1 stock in the BSE 500 pack gave over 100% returns in CY18
The equity market had quite a rough ride in the calendar year 2018, owing to rising interest rates, sharp increase in oil prices and a consistent decline in the value of the rupee. This apart, trade war tensions between two of the biggest economies in the world — the US and China — and a host of unfavourable developments back home, ranging from PNB scam to IL&FS crisis triggering a massive sell-off in the NBFC space, dented investor sentiment in a big way. READ MORE
01:10 PM
SAURABH MUKHERJEA | From stock markets to banking system, what to expect in Lok Sabha poll year
Opportunities Data clearly shows that the political affiliation of the government has little or no impact on India’s economy (since there are almost no ideological differences regarding economic policy between India’s main political parties). READ MORE
12:46 PM
Metals may recover on positive oil demand-supply equation in 2019: Experts
After a year of downturns, resource commodities are expected to recover largely on the back of China’s economy recovering in 2019 on the back of government-infused stimulation and extension of production cuts by oil producing countries. Metals are likely to recover on positive demand-supply equation, while experts say crude oil may have bottomed out, even as the annual average price may be lower than in 2018. READ MORE
12:39 PM
Asian Granito nears 52-week low; stock slips 13%
Shares of Asian Granito India slipped 13% to Rs 162 per share on the BSE in intra-day trade after the company's promoter and managing director Mukeshbhai Patel was arrested by Directorate of Revenue Intelligence on Friday for a case related to an amount of Rs 35 million. Patel was released on bail on Saturday, the company said in a press release. READ MORE
12:17 PM
Lost money on emerging Asian markets? Be warned - 2019 may bring more pain
If you lost money on emerging Asian bonds and currencies this year, be warned: the first half 2019 may see more of the same. In what could be an unwelcome replay, risk assets are likely to remain at the mercy of the U.S.-China trade war, a messy Brexit and rising U.S. interest rates. READ MORE
12:03 PM
Market check
Index Current Pt. Change % Change
S&P BSE SENSEX 36,085.66 +8.94 +0.02
S&P BSE SENSEX 50 11,374.71 +11.00 +0.10
S&P BSE SENSEX Next 50 33,075.41 +193.95 +0.59
S&P BSE 100 11,171.06 +18.66 +0.17
S&P BSE Bharat 22 Index 3,497.66 +5.89 +0.17
11:54 AM
Investing in mid-cap is likely to be a roller-coaster ride in 2019: Experts
In a growth market like India, chasing outperformance often sends investors looking for ideas in the mid- and small-cap space. However, as mid-caps end 2018 with their worst seven-year performance; fund managers' ability to beat benchmarks (also called alpha) is facing some serious questions.
While 2019 is likely to remain volatile, fund managers say the correction opens up opportunities as quality names had run up into ‘overvalued’ territory. READ MORE
11:48 AM
Top gainers in BSE 500:
COMPANY PRICE() CHG() CHG(%) VOLUME
KIOCL 162.95 14.45 9.73 6850
I T D C 321.25 17.60 5.80 15294
NAVKAR CORPORAT. 58.60 3.00 5.40 104153
BLISS GVS PHARMA 164.00 7.75 4.96 268009
JINDAL STAIN. 34.50 1.50 4.55 257435
» More on Top Gainers
11:33 AM
Oil check
Oil prices climbed on the last trading day of the year on Monday, mirroring gains in stock markets, but were on track for the first yearly decline in three years amid lingering concerns of a persistent supply glut. Hints of progress on a possible US-China trade deal helped bolster sentiment, which has been battered by concerns over a weaker global economic outlook.
Brent crude futures - the international benchmark for oil prices - rose 56 cents, or 1.1 per cent, to $53.77 a barrel. Brent declined nearly 20 per cent in 2018 following two years of growth. US West Texas Intermediate (WTI) crude futures were at $45.77 a barrel, up 44 cents, or 1 per cent, from their last close. WTI is down about 24 per cent this year.
11:22 AM
L&T firms up after winning orders
Larsen & Toubro rose 0.56% to Rs 1447.05 at 10:56 IST on BSE after the company said its construction arm won orders worth Rs 2084 crore. The announcement was made during trading hours today, 31 December 2018. READ MORE
11:09 AM
NEWS ALERT Bank of Baroda hikes base rate by 10 bps to 9.4 per cent
11:07 AM
Motilal Oswal Financial Services on automobiles
We prefer PVs over 2Ws and CVs due to their stronger volume growth and a stable competitive environment. Our top picks in autos are Maruti Suzuki India, Eicher Motors and Motherson Sumi among large caps, and Exide Industries and Endurance Technologies among midcaps.
11:02 AM
MARKET COMMENTARY | Nitin Singh, MD & Head, Standard Chartered Wealth Management, India
As we head into 2019, Indian markets are likely to remain volatile. We take a balanced approach to investing being selective in taking risk (diversified equity exposure) while keeping a greater margin of safety (preference for bonds) and keeping some dry power for tactical opportunities during the year (cash a core holding).
11:00 AM
Muthoot Finance nears record high; surges 25% in two months
Shares of gold loan company Muthoot Finance hit a fresh 52-week high of Rs 512 apiece, up 1.4% on Monday. The stock has surged 25% in the past two months, on improved assets quality and expectations of healthy growth going forward. The stock is 3% away from its record high level of Rs 526 touched on September 13, 2017, on the BSE in intra-day trade. READ MORE
10:41 AM
Sebi to ramp up market surveillance, data warehouse tool to identify frauds
Regulator Sebi is planning to beef up its market surveillance system as well as its tool for speedy analysis of trade data, which identifies possible violations such as insider trading, share price manipulation and front running.
In this regard, Securities and Exchange Board of India (Sebi) has invited applications from the interested companies to provide IT services for the maintenance of its integrated market surveillance system (IMSS), data warehousing and business intelligence system (DWIBS). READ MORE
10:23 AM
STOCK OF THE DAY | Bank of India hits 7-month high on government fund infusion plan
Shares of Bank of India (BOI) hit a seven-month high of Rs 105, up 2% on the BSE in early morning trade, after state-owned bank Saturday said the government has decided to infuse Rs 100.86 billion in the bank as part of capital infusion. The stock was trading at its highest level since May 29, 2018. READ MORE
10:07 AM
RECAP 2018 | Gold ends 2018 on a strong note as growth concerns spur demand for haven
Spot bullion is holding near a six-month high after topping $1,280 an ounce, and the metal is set for the best monthly gain in almost two years. December’s rally has pared an annual decline, the first full-year loss since 2015. READ MORE
09:55 AM
Options contracts see a rise in activity ahead of 2019 Lok Sabha polls
Activity is maximum in put options at a strike price of 9,000 and 10,500 on the Nifty50. Put options at both these levels are out-of-the-money, which means they would be profitable only if the benchmark Nifty50 falls significantly from its Friday’s close of 10,859.90. READ MORE
09:47 AM
Chart Reading: Sensex, Nifty and Nifty Bank heading towards breakout levels
NSE Nifty50: The index rose by 80 points on Friday rising above 10,850 to close at 10,859. It finished the week with a gain of 1 per cent. The current level is near 100-DMA, located at 10,914 as per the daily chart. A recovery from 10,534 with an immediate gap up close and a red candle crossing high of 10,834 is heading towards breakout level. The 100-DMA of 10,914 along with recent high of 10,985 stay as the immediate resistance level. The support comes at 10,750 levels followed by 10,680. The trend indicates Nifty is heading towards breakout level of 10,984, chart suggests. Click here to read further
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