INDIAN BENCHMARKS ended flat ahead of Fed meet, RBI policy
INDIAN EQUITY BENCHMARK ended flat amid a volatile trading session, as investors exercised caution ahead of the two-day FOMC meet and Reserve Bank of India's monetary policy later this week. IT index tracked depreciation in rupee and was the top gainer among the sectoral indices up followed by Metal, Auto and FMCG indices. However, Realty, Power, Bank and Consumer Durables shares ended down.
Further, Dr Reddy's gained 4% after the company said it has received an approval from the US FDA for its Azacitidine for injection 100 mg/vial. unit in Mohali. Sesa Goa ended 1.8% up, bouncing back nearly 6% from intra-day low ahead of Supreme Court (SC) hearing on Goa mining.
The crucial resistance for Nifty is now seen at 5905 and above this 5950. Support for the immediate term is now placed at 5845 and next support will be 5810.
News to watch:
• Watch out for the RBI policy on 18 SEPT.
• Watch out for the MONITORY POLICY STATEMENT on 20 SEPT.
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