Indian market closed at one-month high Thursday with the benchmark indices rising 2 percent. The BSE Sensexrose 381.94 points to close at 19676.06 after hitting an intraday high of 19723.51. The NSE Nifty soared 118.40 points to finish at 5935.10.All eyes will be on Narayan Murthy's return and commentary from him as earnings season officially kicks starts with IT major Infosys reporting April-June numbers today. According to a CNBC-TV18 poll, it is expected to be a muted first quarter with dollar revenue seen flat at USD 1957 million while profits may dip 3 percent. Further margin pressure is seen. FY14 dollar revenue guidance could be maintained at 6-10 percent.
Stock Market Outlook:
NIFTY TREND: CONSOLIDATE
NIFTY SPOT LEVELS
SUPP 1: 5870 ; SUPP 2: 5775
RES 1: 5975 ; RES 2: 6070
BANK NIFTY TREND: CONSOLIDATE
BANK NIFTY FUTURE LEVELS
SUPP 1: 11590 ; SUPP 2: 11310
RES 1: 11770 ; RES 2: 11990
Stocks to be in focus today:
· In the latest on strike at Bajaj Auto 's Chakan plant in Pune, there is a tripartite meeting in between the Chief Labour Commissioner, Bajaj Auto management and workers.
· Agency reports indicate that Coal India 's arm has signed two fuel supply pacts with NTPC . Sources say that the arm will supply 2.3 mt coal per year and the fuel supply pact with ntpc supports 1,000 mw capacity.
· Zuari Agro has further upped its stake in Mangalore Chemicals . It has bought an additional 2.5 percent stake at nearly Rs 68 a share. It's total stake is at 16 percent from 13.5 percent.
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