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Sensex ends strong ahead of pre-Diwali session

FXStreet (Mumbai) - The Indian equity markets ended higher ahead of tomorrow’s special Diwali trading session.

The 50-share index, Nifty,closed 0.9% higher at 7995.9 while the Sensex closed 0.80% higher at 26,787 levels. However, the Nifty could not rise above the 8000 mark today. The top gainers in the Sensex for the day are Cipla, Hero MotoCorp, Bajaj Auto, Tata Motors and Maruti Suzuki while the top losers are ONGC, ITC, NTPC, ICICI Bank and Bhart Airtel.

Moreover, the markets have been gaining strength on hopes that the Reserve Bank of India (RBI) would cut interest rates after inflation cooled down to 6.46% in September. The falling crude oil prices are likely to bring down inflation even further in the months ahead.

Sensex Technical levels

The index has an immediate resistance of 26,851 levels, above which the prices can rally to 27,000 levels. On the downside, the index has a strong support of 26,686 levels, below which the prices can fall to 26,600 levels.

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