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Wednesday, July 2, 2014

INDIAN BENCHMARKS end at record closing highs… Nifty closes above 7,700.

INDIAN EQUITY BENCHMARKS ended at fresh record highs as institutional investors bought stocks across the board on hopes that the Finance Minister would announce reforms to boost the economy. Shares of Adani Group companies were ended higher by up to 10% on back of heavy volumes.

Further, Bajaj Auto auto sales stood at 3.05 lk units in June as compared to 2.95lk units YoY. The total motorcycle sales stood at 2.62lk units. L&T Construction has won new orders worth Rs 2002 cr across various business segments in June 2014.

The crucial resistance for Nifty is now seen at 7730 and above this 7765. Support for the immediate term is now placed at 7620 and next support will be 7585.

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