Friday 21 March 2014
INDIAN EQUITY BENCHMARK
struggled for any kind of direction. Indices did manage to open with a gap up
amid overnight gains in the US and the Asian markets; however, it was very
short lived as traders continued to lighten their positions ahead of the F&O
expiry in the coming week.
Further, Government today sold
9% stake held through SUUTI in Axis Bank through a block deal. The Government
is expected to garner over Rs. 5,500 crore through the sale of 4.2 crore shares
or 9% stake.
And, Shares of Sunil Hitech
Engineers rallied 6% to close at Rs 65.5 after board allotted 13,50,000 Equity
Shares of the Company upon Conversion of 13,50,000 Warrants to the Allottees
belo.
The crucial resistance for Nifty
is now seen at 6525 and above this 6575. Support for the immediate term is now placed at 6470 and next support will
be 6430.
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