INDIAN
BENCHMARKS ended
marginally lower, amid a volatile trading session.
INDIAN
EQUITY BENCHMARKS ended
marginally lower amidst a volatile trading session and fluctuating levels, as
sales by foreign institutional investors in index heavyweights capped upside
gains. Tata Motors announced a 195% increase in third-quarter net profit which
was boosted by strong demand for its luxury Jaguar Land Rover vehicles.
Consolidated net profit for the October-December quarter was 48.05 billion
rupees, compared to 16.3 billion rupees a year ago.
Further, Indraprastha Gas Ltd (IGL) has
posted a net profit after tax of Rs. 894.60 million for the quarter ended
December 31, 2013 as compared to Rs. 863.20 million for the quarter ended
December 31, 2012. Total Income has increased from Rs. 8720.40 million. Shares
of Ceat Ltd were up by 6 percent after reported its net profit stood at Rs.
60.85 crore as against Rs. 16.93 crore in the December 2013 quarter.
The crucial resistance for Nifty is now
seen at 6100 and above this 6170. Support for the immediate term
is now placed at 6030 and next
support will be 5965.
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News to watch:
·
Watch
out for the quarterly earnings of Tata Steel & Dr. Reddy’s Lab on 11th
Feb.
·
Watch
out for the Consumer Price Index (CPI) & Indian Industrial Production (IIP)
on 12th Feb.
·
Watch
out for the Wholesale Price Index (WPI) on 14th Feb.
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