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Nifty ends below 8800, Reliance looses about 3%
Nifty fell about 78.65 points or 0.9 percent at 8754.95. About 1201 shares advanced, 1707 shares declined and 209 shares were unchanged
Reliance fell 3 percent while GAIL, SBI, Tata Steel and Axis Bank were among the laggards in the Sensex. Among the gainers were M&M, TCS, Sesa Sterlite and NTPC.
Today Gold is trading around USD 1,200-an ounce, lowest in seven weeks, metal eased after a deal was struck over Greece's debt, while the absence of major consumer China also took a toll.
Eurozone finance ministers reached an agreement to extend heavily indebted Greece's financial rescue by four months, officials on both sides said.
The deal removes the immediate risk of Greece running out of money next month and possibly being forced out of the single currency area.
China is the number 2 gold consumer, which has been shut since Wednesday for the Lunar New Year holiday, removing a key support for bullion.
Suggested Reading - List of NSE Holidays.
MCX SILVER technical updates - Silver will find strong trend line support around 35698, will favor bears once it closes and holds below.
The Nifty opened on a positive note and was trading around its psychological level of 8,850.
The BSE mid-cap and small-cap indices were up around 0.4 per cent each.
Metal stocks were in demand, lead by Hindalco after the company bagged one more mine in the ongoing coal auction, taking the total number of blocks won by the firm to three that includes two in Chhattisgarh and one in Jharkhand.
So far Hindalco was the top gainer on the Nifty, up 2 per cent trading around Rs. 160.
Don`t miss - Indian stock market tips.
IT stocks also witnessing buying intrest stock like HCL Technologies, Infosys, tech Mahindra and TCS advancing after Friday's selling pressure.
At around 9:40 AM, the Sensex was up 98 points at 29,329 and the Nifty jumped 29 points to 8,862 levels.
MCX NICKEL finding strong trend line support at current levels @ 862, further price fall can be seen once it closes and holds below.
MCX NATURAL GAS will find strong resistance around 190, further bulls move expecting once it closes and holds above 190.
MCX LEAD will find strong trend line support around 108, further weakness expecting once it closes and holds below 108.
MCX ZINC closed below golden ratio support zone @ 128.50, will favor bears as long as holds below 128.50.
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- Nifty ends below 8800, Reliance looses about 3%
- Gold trading at seven week low on Greek debt deal,...
- MCX SILVER technical updates - Silver will find st...
- Indian Stock Market Morning update 23rd February 2...
- MCX NICKEL finding strong trend line support at cu...
- MCX NATURAL GAS will find strong resistance around...
- MCX LEAD will find strong trend line support aroun...
- MCX ZINC closed below golden ratio support zone @ ...
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