BSE Sensex edge higher ahead of the interim budget 2014

Indian stock market indices edged higher ahead of the interim budget. The BSE Sensex was trading 44.22 points or 0.22% higher at 20,411.04 points, while the NSE Nifty was trading 11.45 points or 0.19% higher at 6,059.80 points at 10.40 am IST on Monday.

However, analysts feel markets could come under pressure at higher levels. “Indian markets could face resistance at higher levels during the latter half of the session. Immediate support for Nifty is at 5950, while stiff resistance is at 6095 level,” said HDFC Securities in a research note.

Among sectoral indices, the BSE Bankex (0.65%), BSE Realty (0.47%) and BSE IT (0.42%) were the major gainers.

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Among individual stocks, Tata Power (3.32%), Dr Reddys Laboratories (1.89%) and Axis Bank (1.32%) were the major gainers on the 30-share Sensex.

Asian markets were trading in the green. The Hang Seng (0.96%), KOSPI (0.24%), Straits Times (0.82%) and Shanghai Composite (0.67%) were trading higher.

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