nifty: Market Watch: 17,400 could be turning point for Nifty bulls in near term | The Economic Times Podcast

Welcome to ETMarkets Watch, your daily wrap-up to the day on Dalal Street. I am Nikhil Agarwal.

Domestic equity markets ended the volatile session on a positive note on Wednesday, led by buying in auto stocks and ahead of the central bank’s policy meeting outcome expected later this week.

Sensex seesawed between red and green but ended 214 points or 0.37 per cent higher at 58,350.53. Its NSE counterpart, Nifty50, ended 42.7 points or 0.25 per cent to close at Rs 17,388.15.

Among the gainers, Tech Mahindra, TCS, Infosys, Titan surged over 1 per cent each, followed by Asian Paints, ICICI Bank, Bharti Airtel and RIL.

Shares of Spicejet climbed nearly 7 per cent in Wednesday’s trade after ET NOW reported that the airline is in talks with a Middle Eastern carrier for a 24 per cent stake sale.

Maruti Suzuki and Sun Pharma settled 2 per cent lower. Kotak Mahindra Bank, IndusInd Bank, Bajaj Finance and ITC also settled with minor cuts.

Mr Rupak De, Senior Technical Analyst at LKP Securities, said going ahead, a decisive move above 17,400 may induce a further rally in the market. Failure to move above 17,400 may attract selling pressure in the market, he said.

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