INDIAN BENCHMARKS ends higher led by rate sensitive shares

INDIAN EQUITY BENCHMARKS surged in late trades, snapping their five-day losing streak, led by rate sensitive shares on hopes that easing inflation may give central bank the much needed comfort to cut key policy rates.

Further, Piramal Enterprises fell nearly 10% after the stock turned ex-dividend today for a dividend of Rs 52.50 per share.

TVS Motor Company gained 3.9%, extending its previous day’s rally, after the company's market share rose to 12.6% from 12.1% in June quarter, first time in two years.

The crucial resistance for Nifty is now seen at 7545 and above this 7625.Support for the immediate term is now placed at 7455 and next support will be 7420.

NEWS TO WATCH:

Watch out Quarterly Earnings of Kotak bank, South Indian bank, Federal bank, Bajaj Finance on 16^th July 2014