INDIAN BENCHMARKS dives 2 pct; biggest decline since September.
INDIAN EQUITY BENCHMARKS recorded their
highest percentage fall since September 3, 2013, amid a selloff in emerging
markets, with Interest rate sensitive stocks extended fall in last hour of
trade, especially ahead of RBI's third quarter monetary policy review on
Tuesday. Allahabad
Bank reported 4.8 percent growth in net profit and 0.6 percent growth in net
interest income year-on-year.
Further, HUL reported stable numbers
with the third quarter net profit growing 22 percent year-on-year supported by
strong operational performance. Net profit increased to Rs 1,062.3 crore from
Rs 871.4 crore. Telecom shares ended lower after the Empowered Group of
Ministers on telecom, announced that the Subscriber Usage Charge for new
spectrum will be a maximum of 5% of adjusted gross revenue.
The crucial resistance for Nifty is now
seen at 6190 and above this 6270. Support for the immediate term
is now placed at 6100 and next
support will be 6065.
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News to watch:
·
Watch out for the quarterly earnings of
JSW Steel, Sesa Sterlite, & Maruti Suzuki on 28th Jan.
·
Watch out for the RBI Third Quarter
Review Policy on 28th Jan.
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