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Friday, February 28, 2014

INDIAN BENCHMARKS end at five-week highs ahead of Q3 GDP data

INDIAN BENCHMARKS gained for the fifth straight session to end at five-week highs led by TCS, Tata Motors and pharma shares. The government will announce GDP figures for the December 2013 quarter later today.

Further, Bharti Airtel recovered from the day's lows to end down 0.2% that Nigeria's telecom regulator has fined mobile operators MTN , Airtel and Globacom a combined 647.5 million naira and banned them from selling SIM cards in March due to poor service. Maruti Suzuki India ended down 4.5% after the company clarified regarding its board's decision on the proposed Gujarat project.

The crucial resistance for Nifty is now seen at 6300 and above this 6350. Support for the immediate term is now placed at 6100 and next support will be 6040.


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