INDIAN BENCHMARKS end lower amid volatility

INDIAN EQUITY BENCHMARK on a negative note led by declines in bank shares as RBI chief Raghuram Rajan's comments on inflation being still high, were seen weighing on market sentiment. Markets also tarcked financials as investors adopted a cautious stance ahead of the June-quarter current account deficit. 

Further, BPCL and Videocon gained after a drilling campaign off Brazil showed that an area controlled by Petrobras and the Indian companies likely holds more than a billion barrels of oil. Bharti Airtel lost on reports that Department of Telecommunication is likely to impose an additional penalty of Rs 204 crore for offering 3G services in seven service areas.

The crucial resistance for Nifty is now seen at 5945 and above this 6015. Support for the immediate term is now placed at 5865 and next support will be 5820.