Wednesday, 23 April 2014
INDIAN
BENCHMARKS scaled fresh all-time highs on the last day of April derivatives
series due to strength in capital goods and banking stocks. Natco Pharma
extended gains for the third straight session rising 10% after a US Supreme
Court ruling paved the way for the company to launch the generic version of
Teva's Copaxone.
Further, Reliance Industries Ltd has
raised USD 550 million loan for part-funding expansion of its petrochemical
plant and new gasification unit from Japanese banks. YES Bank
reported fourth quarter (January-March) net profit at Rs 430 crore, up 18.8
percent compared to same quarter last year, driven by non-interest income.
The
crucial resistance for Nifty is now seen at 6880 and above this 6900.
Support for the immediate term is now placed at 6700 and next support
will be 6650.
