Nifty index closed at 4,783.00 with the gain of 62.40 or 1.32%. The Nifty Sept future finally settles at with a gain 77.45 pts or 1.67% above at 4720.60 and decreased 5137900 shares in the open interest. The Nifty future turned to the premium of 6.60 from discount of 8.45 where as cost of carry is 7.83% vs.-13.54%. Nifty future has closed at 4720.60 and now next logical resistance is at 4850 and 4920 levels, and good support near 4500 and 4340 levels.

US stock futures rising before holiday: US stock futures are rising ahead of a trio of government reports about behavior of consumers and businesses, as well as the health of the housing market. With retailers heading into the final days of their most crucial season, the Commerce Department is expected to report that spending rose 0.3 per cent last month after ticking up 0.1 per cent in October. And incomes are estimated to have grown 0.3 per cent after rising 0.4 per cent in October _ the best showing since March.