Nifty is likely to open flat today following the flat global cues. The first support lies at 4953.11. If went further down it can touch 4923.28 or even 4875.31 at the bottom level. An upward movement can pull up to 5001.08. If moved up further can test 5030.91 and 5108.71.
Asian stocks advanced for a second day, with the regional benchmark index heading for its biggest two-day gain since December 2009, after Greece made progress in meeting requirements for more international aid and Germany vowed continued support for the country. Japan’s Nikkei and Shanghai Composite were marginally up and Hangseng was down nearly 1 percent. SGX Nifty was up 7 points at 4990 (7:50 am IST).
U.S. stocks rose, after Greece made progress in meeting requirements for more international aid and Germany vowed continued support for the country. The S&P 500 increased 1.1 percent to 1,175.38 at 4 p.m. New York time and the Dow Jones Industrial Average rose 146.83 points, or 1.3 percent, to 11,190.69 yesterday.
European stocks climbed the most in 16 months amid speculation policy makers will increase efforts to contain the region’s sovereign-debt crisis. Germany’s DAX Index soared 5.3 percent, France’s CAC 40 rose 5.7 percent and the U.K.’s FTSE 100 advanced 4 percent.
Courtesy: Bloomberg.com, moneycontrol.com
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