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Wednesday, February 19, 2014

INDIAN BENCHMARKS ends near day's highs led by IT shares

INDIAN BENCHMARKS surged in late trades to end near their day's with IT majors leading the gains. Shares of Sun Pharmaceutical gained by 2.5%  after company has received approval from the US Food and Drug Administration to sell a drug to treat Osteoporosis. 

Further, Ranbaxy Labs ended up 3% that the troubled drug major along with its rival Israeli Teva pharmaceutical are set to settle a case in the United States alleging signing an unlawful agreement to stall competition. Shares of TechMahindra was up 15% and closed at Rs1843 on reports that Tech Mahindra, Financial Technologies has come closer on deal talks.

The crucial resistance for Nifty is now seen at 6190 and above this 6250. Support for the immediate term is now placed at 6065 and next support will be 5990.


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