Sensex rises 130 pts, Nifty tops 24,050 as financials offset IT weakness
Mumbai, July 15 -- Domestic equity benchmarks surrendered most of their intraday gains on Wednesday as investors booked profits amid renewed concerns over escalating US-Iran tensions and rising crude oil prices. After climbing to an intraday high of 24,220.35, the Nifty pared gains to close at 24,078.50. Financial stocks, which led the early rally following softer-than-expected U.S. inflation data, remained among the top gainers, while IT shares came under pressure after IBM issued weaker-than-expected guidance. Investor sentiment turned cautious as Brent crude hovered around $86 a barrel amid concerns over potential disruptions to global energy supplies. Technically, the Nifty faces immediate resistance in the 24,200-24,250 zone, while 2...
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