MARKET WRAP UP The Sensex and Nifty jumped over one per cent on Friday and were headed for their second session of gains, led by energy stocks, including Reliance Industries Ltd, as oil prices extended their rally. Domestic sentiment was also buoyed on continued buying by investors ahead of IIP and inflation data scheduled to be released later in the day. US stocks closed at record highs on Thursday as surging oil prices and strong earnings buoyed investor sentiment, giving a boost to Asian markets. Dealers said widening of positions by participants ahead of key economic data —— industrial production (IIP) for June and consumer price index (CPI) for July —— to be released after market closing today also added to the upbeat investor sentiment. At 3.05 pm, the Sensex was up 315.38 points or 1.13 per cent at 28,174.98 while the NSE Nifty was up 85.7 points or 1.00 per cent at 8,677.85. Sentiment also got a boost as foreign investors continued to buy Indian shares for a...
Global
nickel markets ended in small deficit of 4,400 tonnes in
January-February 2016 with apparent demand exceeding production. The
calculated full year surplus had stood at 10.8 kt during the whole year
2015, according to the latest data released by the World Bureau of Metal
Statistics (WBMS). Technically market is under short covering as market
has witnessed drop in open interest by -6.16% to settled at 11854 while
prices up 1.3 rupee, now Nickel is getting support at 604.5 and below
same could see a test of 598.3 level, And resistance is now likely to be
seen at 615.9, a move above could see prices testing 621.1. 
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