Early on D-Street: Dip below 11,800-11,839 can be used to short Nifty with target of 11,700

Indian market witnessed a volatile day but bulls managed to defend the 11800 mark to close the day in the green. The S&P BSE Sensex rallied by over 150 points while the Nifty50 closed above 11850 levels.

Let’s look at the final tally on D-Street – the S&P BSE Sensex rose 170 points to 40,286 while the Nifty50 closed 31 points higher at 11,872 on Thursday.

In terms of sectors, the action was seen in IT, consumer durables, finance, and banking stocks while profit booking was seen in telecom, metals, energy, and capital goods index.

On the earnings front, as many as 15 companies on the BSE will report their results which include names like Reliance Communications, Tata Teleservices, and Vadilal Industries.

India and China have agreed to hold another meeting on matters relating to the boundary question after Prime Minister Narendra Modi met Chinese President Xi Jinping on the sidelines of the BRICS Summit here, according to an official statement.