INDIAN BENCHMARKS Narrow trade; flat end on Dalal Street
INDIAN EQUITY BENCHMARKS
edged higher on snapping two days of falls, as oil explorers rose after
recent sharp falls, while some firms seen as sensitive to rates
extended recent rallies on hopes the central bank would ease policy
early next year. The CNX Nifty ended 0.15% higher today.The Reserve Bank
of India kept interest rates unchanged at 8% as widely expected,
staying focused on containing inflation while adopting a more dovish
tone in respo nse to the government's call for help to revive economic
growth. However, the central bank indicated rates could ease early next
year as inflation shows signs of cooling.
BHEL rose 2.50%, after the company said it successfully commissioned India's first phase shifting transformer in Telangana.
Further,
Eicher Motors rose 7.14%, after a foreign brokerage resumed coverage on
the stock with a 'Buy' rating, citing strong demand for Royal Enfield.
Pennar Industries rose 2.88%, after the company along with its
subsidiary secured orders worth Rs102 crore in November 2014.
The crucial resistance for Nifty is now seen at 8670 and above this 8725. Support for the immediate term is now placed at 8545 and next support will be 8480.
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