INDIAN BENCHMARKS at 2-1/2 week high; rate-sensitive stocks rise
INDIAN EQUITY BENCHMARKS rose for the sixth straight session on Wednesday, hitting their highest in nearly 2-1/2 weeks, as interest-rate sensitive stocks such as ICICI Bank gained on hopes of rate cuts by the central bank due to slowing inflation and reforms in the upcoming budget would aid credit growth. The S&P BSE Se nsex and CNX Nifty ended 0.63%-0.68% higher each.
· Pipavav Defence surges 20% to mark fresh high
· Suzlon Energy rallies 20% for day two on stake buy
· JLR January 2014 global wholesale volumes down 5.4% YoY
The crucial resistance for Nifty is now seen at 8945 and above this 8975. Support for the immediate term is now placed at 8820 and next support will be 8765.
INDIAN EQUITY BENCHMARKS rose for the sixth straight session on Wednesday, hitting their highest in nearly 2-1/2 weeks, as interest-rate sensitive stocks such as ICICI Bank gained on hopes of rate cuts by the central bank due to slowing inflation and reforms in the upcoming budget would aid credit growth. The S&P BSE Se nsex and CNX Nifty ended 0.63%-0.68% higher each.
· Pipavav Defence surges 20% to mark fresh high
· Suzlon Energy rallies 20% for day two on stake buy
· JLR January 2014 global wholesale volumes down 5.4% YoY
The crucial resistance for Nifty is now seen at 8945 and above this 8975. Support for the immediate term is now placed at 8820 and next support will be 8765.
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