INDIAN EQUITY MARKET WRAP UP-5 June 2014

INDIAN BENCHMARKS ends at record highs

INDIAN EQUITY BENCHMARKS gained momentum in the latter half of the trading session on renewed buying interest to end at record highs, with metal and information technology shares leading the gains.

Further, Reliance Capital Ltd rallied 3 per cent on fund raising plans. It was seeking shareholder approval for private placement of non-convertible debentures (NCDs) and issue of securities to qualified institutional buyers. Piramal Enterprises has acquired 9.99 per cent stake in Shriram City Union Finance for a total of Rs 790 crore.

The crucial resistance for Nifty is now seen at 7500 and above this 7560. Support for the immediate term is now placed at 7360 and next support will be 7320.

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