BSE Sensex closed higher by 141.52 points, or 0.41%, to end at 34,297.47 today, while the Nifty50 rose 44.60 points, or 0.42%, to close at 10,545.50 today, with 30 constituents ending in the green and 19 in the red. One remained unchanged. The indexes have failed to capitalise on morning gains in the past few sessions.
After taking a day's breather, the equity benchmark indices rose today underpinned by gains in metal, oil, auto and private bank stocks amid positive global cues. Decline in inflation also boosted market sentiment. The government data today showed that wholesale price inflation eased to a six-month low of 2.84 per cent in January on cheaper food articles. Punjab National Bank shares declined for a second consecutive session.
Our market remained highly volatile through the day and finally closed near its opening level. The Nifty50 index opened in the positive, but failed to hold above the 10,600 level and corrected towards the 10,511 level mid-day. In the process, it formed a Doji candle on the daily chart. The index would now face immediate resistance at 10,600 level, as was the case today. The downside support is seen at the 10,480 level. If the index slips below 10,480, weakness would extend towards 10,400 and 10,333 levels.