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Wednesday, January 15, 2014

INDIAN BENCHMARKS surged over 1% led by rate sensitive shares.

INDIAN EQUITY BENCHMARKS surged over 1% led by rate sensitive shares after December WPI which eased to a 5-month low to 6.16 percent from 7.52 percent, raised hopes that the Reserve Bank of India would maintain status quo on key policy rates for the second straight month at its policy review meet end-January.

Further, Share of YES Bank gained as third quarter net profit jumped 21.4 percent, higher-than-expected to Rs 415.6 crore supported by non interest income, but asset quality weakened. Shares of Liberty Shoes ended down 7% at Rs 146 on profit booking after the stock witnessed sharp gains since end-December on expectation of robust third quarter earnings.

The crucial resistance for Nifty is now seen at 6360 and above this 6415. Support for the immediate term is now placed at 6265 and next support will be 6230.

News to watch:

·Watch out for the quarterly earnings of Axis Bank, HCL Tech & TCS on 16th Jan.


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