INDIAN BENCHMARKS surged nearly 2 percent to mark their biggest single-day gain in nearly a month.
INDIAN EQUITY BENCHMARKS surged nearly 2 percent to mark their biggest single-day gain in nearly a month. The rally was largely led by Reliance Industries after the cabinet decision on gas price and liquidity gush by foreign institutional investors despite Fed's decision to taper. The market sentiment was also cheered by data showing that FIIs made substantial purchases of Indian stocks yesterday.
Further, Maruti Suzuki India ended higher by 2%, extending its previous day’s 3% rally, on reports that the company’s foreign promoter is planning to increase its holding in the company. Shares of information technology (IT) companies mainly mid and small-sized were in demand with many of them trading at their 52-week highs on the National Stock Exchange (NSE).
The crucial resistance for Nifty is now seen at 6330 and above this 6365. Support for the immediate term is now placed at 6200 and next support will be 6170.
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