INDIAN EQUITY rose more than 2 percent,
to mark their biggest single-day gain in a month, tracking gains in other Asian
markets. Bank stocks gain with bond yields on watch ahead of the Reserve Bank
of India's 80 billion rupees bond purchases later in the day. Shares of
Financial Technologies surged 20% has surged 18% on back of heavy volumes.
Further, Tata Steel shares rise 3.29
percent after the company's second-quarter profit beat expectations, helped by
a rise in prices and market share at home. ONGC shares trading higher by 3.39%,
after reporting a better-than-expected 2.8% year-on-year (yoy) jump in net
profit at Rs 6,064 crore for the quarter ended September 30, 2013.
The crucial resistance for Nifty is now seen at 6200
and above this 6290. Support for the immediate term is now placed at 6110 and next support will be 6040.
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