INDIAN BENCHMARKS edged up weaker rupee boosts exporters..........
INDIAN EQUITY BENCHMARKS fell edged up on Thursday as exporters such as Infosys Ltd rallied after the rupee fell to a nine-month low, although the weaker local currency hit other blue-chips such as Tata Motors by tempering hopes of interest rate cuts.
·Foreign institutional investor bought shares worth $11.59 million on Wednesday and $2.4 million on Tuesday. They have bought a net $15.47 billion worth of shares so far in 2014,
·Further, Kotak Mahindra Bank may buy ING Vysya Bank, sending both stocks to their record highs. Kotak said no decision had been made in relation to any merger.
The crucial resistance for Nifty is now seen at 8475 and above this 8510. Support for the immediate term is now placed at 8315 and next support will be 8245.
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