INDIAN BENCHMARKS gains ahead of positive economic cues.
INDIAN EQUITY BENCHMARK rose more than 2 percent to its highest close in nearly two weeks as software services exporters gained on bets for an improving business outlook in key markets, while banks surged on potential gains from falling bond yields. Indian shares also tracked gains in regional peers, partly boosted by an upbeat survey on China's huge services sector.
Further, Tata Communications Ltd rose 4.2 percent after HSBC upgraded the stock to "overweight" from "neutral" citing a potential takeover of unit Neotel. Hindustan Unilever fell 1.5% adding to previous days 1.3% decline after the parent company warned that a slowdown in its emerging markets accelerated in the 3rd quarter.
The crucial resistance for Nifty is now seen at 6010 and above this 6060. Support for the immediate term is now placed at 5910 and next support will be 5845.
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