INDIAN BENCHMARKS gained in the closing hour.
INDIAN EQUITY BENCHMARKS gained in the closing hour with the Nifty topping the 6,300. RBI hiked short-term lending (repo) rate by 0.25 percent, State Bank of India (SBI) today raised fixed deposit rate by 0.2 percent on select maturity mark & scrip rallied on hopes of stabilizing asset quality and valuations.
Further, Union Bank of India reported quarter 2 result & said profit after tax is fell by 62 percent. DLF reported 28 percent fall in its consolidated net profit at Rs 100.05 crore during second quarter of the current fiscal due to lower sales and higher interest and tax outgo.
The crucial resistance for Nifty is now seen at 6310 and above this 6340. Support for the immediate term is now placed at 6250 and next support will be 6210.
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