INDIAN EQUITY BENCHMARKS gained but
ended way off their intra-day record highs as investors booked profits ahead of
the new cabinet formation by the BJP-led NDA and its key policy measures to
stimulate growth.
Further, L&T Infrastructure
Development and Tata Steel announced that they have executed a definitive
agreement with Adani Ports to sell 100% stake in the Dhamra Port Company
Limited for an Enterprise Value of around Rs 5500 crore. Tata Steel fell 4.30%
on reports the Supreme Court passed a limited mining ban on Odisha.
The crucial resistance for Nifty is now
seen at 7460 and above this 7730. Support for the immediate term
is now placed at 7060 and next support will be 7000.
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NEWS TO WATCH:
Watch out for
the quarterly earnings of Reliance Infra, Reliance Power and Jubilant Food on
19TH May 2014.
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