INDIAN BENCHMARKS ended at record closing high ; state run lenders gain
- INDIAN EQUITY BENCHMARKS hit a record high on Friday, rising for the third straight session, led by gains in lenders such as SBI after the government said it would cut its stake in state-run banks.
- The positivity in the market was injected by falling global crude oil prices which will help ease in inflation headline number, raising hopes of a rate cut by RBI on 2 December 2014, monetary policy review.
- Just Dial rose 2.02% after the RBI notified that foreign institutional investors/registered foreign portfolio investors can invest up to 75% of the company's equity capital from earlier 49%.
- Further, DLF rose 0.81% on media buzz that Supreme Court granted status quo on Punjab & Haryana High Court's order of re-auctioning land allotted to DLF by the Haryana government.
- The crucial resistance for Nifty is now seen at 8675 and above this 8725. Support for the immediate term is now placed at 8588 and next support will be 8535.
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