INDIAN BENCHMARKS snaps 4-day winning streak.
INDIAN BENCHMARKS snapped its
four day winning streak and closed almost 1 percent lower led by a sell-off in heavyweight
banking stocks. The investor sentiment went for a toss on cues emerging from
world's biggest economies. Macro-economic data from China and minutes of the US
Federal Reserve's last meeting caused the turmoil as stocks tumbled around the
globe.
Further, Tata Sponge Iron has rallied 13%
to Rs 424, extending its previous day’s 5% gain, on back of heavy trading
volumes. A combined 2.55 million shares representing 16.6% of total equity of
the company changed hands on the counter. Thomas Cook 's fourth quarter
consolidated net profit grew 52 percent to Rs 13.1 crore compared to same
quarter last year on account of higher revenues.
The
crucial resistance for Nifty is now seen at 6190 and above this 6250.
Support for the immediate term is now placed at 6065 and next support
will be 5990.
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