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Tuesday, June 17, 2014

INDIAN BENCHMARKS ends higher… Infra, banks gain

INDIAN EQUITY BENCHMARKS edged up recovering from mid-day losses as buying activity in Oil&Gas, Banking and Capital Goods shares.

Further, Cipla subsidiary of the company Cipla Mauritius has signed a definitive agreement with the company’s existing Sri Lankan distributor for acquisition of 60 percent stake in a new company which will market the company’s products in Sri Lanka. Cairn India climbed over a percent that the company received environment nod to raise production from its Rajasthan block to 3 lakh barrels per day.

The crucial resistance for Nifty is now seen at 7675 and above this 7700. Support for the immediate term is now placed at 7510 and next support will be 7485.

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