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Wednesday, January 29, 2014

INDIAN BENCHMARKS ends flat amid volatility

INDIAN BENCHMARKS ended flat ahead of January F&O contracts expire tomorrow. Markets closed flat with a slight negative bias after a volatile session that saw key benchmark indices move in a narrow range.

Further, ICICI Bank reported stable numbers in the third quarter with the net profit growing 12.5 percent to Rs 2,532.2 crore compared to a year ago period, supported by higher net interest income and non interest income. Ranbaxy Laboratories was up 2%  after Global drug regulators are evaluating details of the US Food and Drug Administration's (USFDA) inspection of Ranbaxy Labs plant at Toansa in Punjab.

The crucial resistance for Nifty is now seen at 6188 and above this 6220. Support for the immediate term is now placed at 6085 and next support will be 6030.

News to watch:

Watch out for the quarterly earnings of Arvind, Bank of India, Voltas on 30th jan.


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