INDIAN MARKET WRAP UP- 03
December 2013
Further, Reliance Industries was up 1% on reports that Reliance Industries-BP combine is leading the race for picking up 25% stake in Gujarat government's planned LNG import terminal at Mundra. After a disappointing year-on-year sales performance in November, stocks of auto companies were declined by 0.5% on Tuesday. The decline in the BSE auto index was led by losses in Mahindra & Mahindra, Hero MotoCorp, Bajaj Auto and Tata Motors.
The crucial resistance for Nifty is now seen at 6230 and above this 6290. Support for the immediate term is now placed at 6190 and next support will be 6170.
INDIAN BENCHMARKS ended with marginally lower amid.
INDIAN BENCHMARKS ended marginally lower as investors booked profits at higher levels after gains in the previous three sessions, due to profit-taking in stocks of blue chips such as Larsen and Toubro Ltd after upbeat U.S. data raised fears the Federal Reserve would reduce its monetary stimulus.
INDIAN BENCHMARKS ended marginally lower as investors booked profits at higher levels after gains in the previous three sessions, due to profit-taking in stocks of blue chips such as Larsen and Toubro Ltd after upbeat U.S. data raised fears the Federal Reserve would reduce its monetary stimulus.
Further, Reliance Industries was up 1% on reports that Reliance Industries-BP combine is leading the race for picking up 25% stake in Gujarat government's planned LNG import terminal at Mundra. After a disappointing year-on-year sales performance in November, stocks of auto companies were declined by 0.5% on Tuesday. The decline in the BSE auto index was led by losses in Mahindra & Mahindra, Hero MotoCorp, Bajaj Auto and Tata Motors.
The crucial resistance for Nifty is now seen at 6230 and above this 6290. Support for the immediate term is now placed at 6190 and next support will be 6170.
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