INDIAN BENCHMARKS ended flat ahead of Fed meet, RBI policy
INDIAN EQUITY BENCHMARK rose nearly 1% after an extremely volatile session to mark their second consecutive day of gains on continued foreign investment inflows while stocks perceived as defensive gained ahead of the conclusion of the U.S. Federal Reserve meeting. All the key sectoral indices gained with realty, banks, FMCG, consumer durables, oil & gas, healthcare indices leading the gains.
Further, Coal India Ltd surged above percent on expectations of positive announcements from its annual shareholders meeting. Dr Reddy’s Laboratories added 3%, extending its previous day’s nearly 4% rally, after the company secured the approval of USFDA to launch injectible medicine azacitidine.
The crucial resistance for Nifty is now seen at 5980 and above this 6030. Support for the immediate term is now placed at 5865 and next support will be 5820.
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