INDIAN BENCHMARKS: Steady trade, Marginal gains; Nifty holds 7,500 mark

                       

Markets rose for a second consecutive session on Monday, led by Tata Motors after it posted robust sales for February and on improved global risk appetite after gains on Wall Street and in Europe last week. The S&P BSE Sensex and CNX Nifty ended 0.35%-0.38% higher each. 
The Indian equities ended tad higher in a bullish trade on Monday amid value buying by traders in the blue chips stocks, tracking firm cues from global peers. The positivity in market was also injected after the Reserve Bank of India's governor gave early indication of a rate cut at its next policy meet, which saw rate sensitive stocks surging on the local bourses. The government data showed that India’s Wholesale Price Index (WPI) shrank to -0.91% for the month of February as compared to -0.90% for the previous month, continuing its deflationary trend for sixteenth consecutive months

HEADLINES OF THE DAY

·Car exports decline nearly 4% in Apr-Feb period

·February WPI Inflation Unchanged

·Apollo Hospitals completes 51% stake in Assam Hospitals 

Global Markets:

·    US stock index futures poised for a lower opening at the Wall Street on Monday.

·    European shares rose on Monday as funding plans from the European Central Bank for the region's lenders buoyed markets, while Italian banking stocks surged on the prospect of a possible rescue deal.

·    Asian stock markets rose Monday, extending a global rally after Wall Street finished last week strongly, as investors turned their attention to several key upcoming central bank meetings.

The crucial resistance for Nifty SPOT is now seen at 7625 and above this 7675. Support for the immediate term is now placed at 7525 and next support will be 7485.

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