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Monday, February 24, 2014

INDIAN BENCHMARKS end at 1-month closing high

INDIAN BENCHMARKS rose for a second straight session to their highest closing in a month as blue chips including banks gained on continued optimism about foreign investor buying despite rising global uncertainties.

Further, L&T ended higher by nearly 3% after the company said it has received Foreign Investment Promotion Board approval for foreign direct investment in L&T Infrastructure Development Projects Limited. IDFC lost 1% after the Reserve Bank of India after trading hours said that no further purchases of shares of the company will be allowed on behalf of foreign institutional investors.

The crucial resistance for Nifty is now seen at 6230 and above this 6350. Support for the immediate term is now placed at 6065 and next support will be 5990.


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