DSIJ Mindshare

The markets showed a steady recovery on Thursday. The telecom stocks outperformed while IT stocks were also seen gaining in Thursday trading session.

On Wednesday as many as 470 stocks hit upper circuit while 140 stocks hit lower circuit. As many as 1982 stocks advanced on BSE while 1308 stocks declined. At least 209 stocks hit a fresh 52 week high on Wednesday while 25 stocks that are listed on BSE touched their respective 52 week low.

The sudden reversal in the trend in Nifty point to the levels of about 17200 as support with 17600 as resistance.

The markets after trading in green slipped deep into the red in the closing hour of the trading session.

The shares of Laurus Lab are seen trading comfortably above Rs 500 per share from the first time since November 9. This augurs well for the bulls as the psychological level of Rs 500 can be considered important for Laurus Lab.