INDIAN EQUITY MARKET WRAP UP
INDIAN
BENCHMARKS ended flat on December expiry.
INDIAN EQUITY BENCHMARKS indices were
stuck in a narrow trading range in the first half of the session however,
volatility picked up in the second half as blue chips such as Infosys extended
a rally on continued strong buying by foreign investors. Traders maintained
their cautious stance in today’s session primarily due to the F&O
expiry.
Further, Shares of Axis Bank rallied
after the Cabinet Committee on Economic Affairs (CCEA) approved the proposal of
the bank for an increase in foreign investment in the bank from 49% to 62%.
Shares of Amtek India gain after the company entered into an agreement to
acquire substantial business interests in Kuepper group of Germany, through its
100% subsidiaries.
The crucial resistance for Nifty is now
seen at 6320 and above this 6365. Support for the immediate term
is now placed at 6255 and next
support will be 6235.
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