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Tuesday, December 31, 2013


INDIAN BENCHMARKS ended flat, the last trading day of 2013 with amid lacklustre participation from institutional investors. ONGC Videsh Ltd, completed acquisition of an additional 12% stake in a Brazilian oilfield for $561mn after blocking a Chinese entry.

Further, Apollo Tyres has rallied after Cooper Tire & Rubber Company (CTB) has terminated the merger agreement with the company. Piramal Enterprises down after the Foreign Investment Promotion Board approved Vodafone's proposal to buy out minority shareholders.

The crucial resistance for Nifty is now seen at 6320 and above this 6345. Support for the immediate term is now placed at 6285 and next support will be 6255.

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