Today's Intraday Market Overview

Today's Market Outlook:- 

• It was a consolidation session for the market on Friday but the week was strong as equity benchmarks saw biggest weekly gains in 2016 on short covering and globally rally & oil recovery.

• The market gained for third consecutive session today with the 30-share BSE Sensex rising 59.93 points to 23709.15. The 50-share NSE Nifty closed above 7200 level, up 19 points to 7210.75, supported by technology & oil and select banks & auto stocks.
• Tata Steel gained 1 percent as sources told CNBC-TV18 that the Tata Group company is going to undergo massive consolidation & debt reduction drive that will bring down its debt by 10-15 percent by end Of CY16.
• Punjab National Bank topped the buying list on Nifty, up 5 percent on a media report that the bank may consider selling stake in subsidiaries for raising funds.
• Larsen & Toubro was up 0.2 percent on getting orders worth Rs 1,404 crore in power transmission & distribution and heavy civil infrastructure segments.
• In aviation, SpiceJet surged 4 percent after it recorded highest passenger load factor (92.1 percent for January) among all airlines in India. Jet Airways gained nearly 3 percent after a media report suggested that Etihad Airways is set to raise its stake in company to 49 percent from 24 percent.

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