Highlights for Today
Market Outlook for the day – 6250-6350 has been a strong resistance zone for the index hence we advice our clients to either book partial profits or trail stop loss for their recently built long positions.
L&T Construction won new orders worth Rs 5220 crore across various business segments in January and February 2014.
Lanco Infratech rose 2.54% on BSE after the company said it has emerged as the successful bidder for an EPC contract of about Rs 3960 crore from Tamil Nadu Generation and Distribution Corporation.
Tech Mahindra and United Spirits rose by 2.69% and 0.92% on BSE as both these stocks will enter the CNX Nifty index from 28 March 2014.
ITI jumped 1.85% on BSE after the Cabinet Committee on Economic Affairs approved a financial assistance of Rs 200 crore in the form of a soft loan to the company.
Key benchmark indices edged higher in a volatile trading session as buying support witnessed in last hour of the day. Market opened positive but intraday volatility continued. Indices trimmed intraday gains in early afternoon trade but later moved in a narrow range in positive zone in afternoon trade. A bout of volatility was witnessed as the key benchmark indices recovered from lower level after trimming intraday gains in mid-afternoon trade as European stocks rose in early trade there. Among BSE sectoral indices Pharma was the biggest gainer and closed 2.27% up.