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Thursday, December 26, 2013

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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