INDIAN BENCHMARKS Narrow trade; flat end on Dalal Street
INDIAN EQUITY BENCHMARKS edged higher on snapping two days of falls, as oil explorers rose after recent sharp falls, while some firms seen as sensitive to rates extended recent rallies on hopes the central bank would ease policy early next year. The CNX Nifty ended 0.15% higher today.
The Reserve Bank of India kept interest rates unchanged at 8% as widely expected, staying focused on containing inflation while adopting a more dovish tone in respo nse to the government's call for help to revive economic growth. However, the central bank indicated rates could ease early next year as inflation shows signs of cooling.
BHEL rose 2.50%, after the company said it successfully commissioned India's first phase shifting transformer in Telangana.
Further, Eicher Motors rose 7.14%, after a foreign brokerage resumed coverage on the stock with a 'Buy' rating, citing strong demand for Royal Enfield.
Pennar Industries rose 2.88%, after the company along with its subsidiary secured orders worth Rs102 crore in November 2014.
The crucial resistance for Nifty is now seen at 8670 and above this 8725. Support for the immediate term is now placed at 8545 and next support will be 8480.
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INDIAN EQUITY BENCHMARKS edged higher on snapping two days of falls, as oil explorers rose after recent sharp falls, while some firms seen as sensitive to rates extended recent rallies on hopes the central bank would ease policy early next year. The CNX Nifty ended 0.15% higher today.
The Reserve Bank of India kept interest rates unchanged at 8% as widely expected, staying focused on containing inflation while adopting a more dovish tone in respo nse to the government's call for help to revive economic growth. However, the central bank indicated rates could ease early next year as inflation shows signs of cooling.
BHEL rose 2.50%, after the company said it successfully commissioned India's first phase shifting transformer in Telangana.
Further, Eicher Motors rose 7.14%, after a foreign brokerage resumed coverage on the stock with a 'Buy' rating, citing strong demand for Royal Enfield.
Pennar Industries rose 2.88%, after the company along with its subsidiary secured orders worth Rs102 crore in November 2014.
The crucial resistance for Nifty is now seen at 8670 and above this 8725. Support for the immediate term is now placed at 8545 and next support will be 8480.
Get free trading in equity tips, free equity tips, stock tips, stock cash tips, stock futures tips, commodity tips, nifty tips, nifty futures, mcx tips, ncdex tips, and share market tips etc.
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