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Monday, May 4, 2015

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INDIAN BENCHMARKS rise nearly 2 pct, NSE index marks best daily gain in 2 months

INDIAN EQUITY BENCHMARKS closed higher on Monday, with the NSE index posting its biggest daily gain in more than two months, as investors snapped up beaten down blue-chips after India's lower house of parliament approved the 2015/16 Finance Bill on Thursday. The S&P BSE Sensex and CNX Nifty ended 1.77-1.84% higher each.
                                                                                                  
Headlines for the day:
India HSBC MFG PMI at 51.3 for April 2015
Domestic passenger vehicle report strong volumes in April 2015
Government increases import duty on rubber by 5% to 25%.

The crucial resistance for Nifty is now seen at 8415 and above this 8475. Support for the immediate term is now placed at 8250 and next support will be 8195.

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