INDIAN BENCHMARKS end
higher amid volatility
INDIAN BENCHMARKS rebounded from their
four month lows, amid a volatile trading session, to end marginally higher on
value buying by investors at lower levels. The HSBC service sector PMI improved at
48.3% , but remained below the waterline .Shares of Voltas were up nearly 7% after
a foreign brokerage upgraded the stock to 'buy' from 'sell', because of
improvement seen in unitary cooling and engineering agency divisions.
Further, Ranbaxy Labs ended up nearly 6%
after the company reported lower loss of Rs 158.94 crore for the fourth quarter
ended December 2013 compared with Rs 492.44 crore in the same quarter last year
for the quarter ended December 2013 on the back of higher US sales boosted by
acne products. BHEL net profit fell 41 percent year-on-year to Rs 695 crore
during October-December quarter on account of lower revenues in its power and
industry segment.
The
crucial resistance for Nifty is now seen at 6075 and above this 6100.
Support for the immediate term is now placed at 5960 and next support
will be 5930.
News to watch:
·
Watch out for the quarterly earnings of
Aurobindo Pharma, Aban Offshore, Ambuja Cement, Reliance Infra, Bank of Baroda
on 6th Feb.
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