Bulls were in command of the equity markets for the third day in a row as exuberance returned to the Street amid marginal ease in bond yields and cheap valuations. The US Treasury yield was last quoted at 1.55 per cent while domestic 10-year government bond yield was at 6.2 per cent.
Amid a fall in volatility, the benchmark S&P BSE Sensex advanced 254 points, or 0.5 per cent, to end at 51,279.5 levels. On the NSE, the Nifty50 index ended at 15,175 levels, up 76 points or 0.51 per cent. The Sensex and the Nifty hit their respective intra-day highs of 51,430 and 15,218.
Despite three straight days of gains, the Nifty 50 Index has failed to cross the resistance level of 15250. Given this, Ashish Biswas of CapitalVia suggests investors to wait for a decisive breakout above 15,250.