Friday, 11 October 2013

INDIAN MARKET WRAP UP - 11 OCTOBER 2013

INDIAN BENCHMARKS gained ahead of Infosys result.

INDIAN EQUITY BENCHMARK ended over 1% higher, amid firm global cues, led by Infosys after the IT major upped its lower end of dollar revenue growth guidance for the current fiscal. Shares of real estate developers including DLF Ltd and Unitech Ltd gained after the market regulator announced draft rules to allow the establishment of real estate investment trusts in the country.

Further, Coal India has slipped over 4% to on reports that the government plans road show for its propose divestment plan in the company. Tata Motors extends gain on strong JLR retail sales in September. Tata Motors extends gain on strong JLR retail sales in September.

The crucial resistance for Nifty is now seen at 6110 and above this 6145. Support for the immediate term is now placed at 6045 and next support will be 5975. 

News to watch:

1. TCS Q2 results on 15-October-2013
2. Bajaj Finance Q2 results on 15-Oct-2013.
3. HDFC Bank Q2 results on 15-Oct-2013. 
4. Larsen and Toubro's Q2 results on 18-October-2013.
5. M & M Q2 results on 13-Nov-2013.

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