INDIAN BENCHMARKS ended
lower, Nifty tumble to Nov '13 lows
INDIAN BENCHMARKS ended lower, amid weak
global cues, as weak economic data from China, raised worries that the global
growth is still struggling. The US Fed's decision to further taper its monetary
stimulus measures also dampened sentiment. The HSBC’s Manufacturing
Purchasing Manager Index rose to 51.4 in January its highest since March 2013
against 50.7 in December.
Further, Lupin was up 0.3% on gain of
42% Q3 net profit of Rs 476 crore as compared to Rs 335 crore in the same
period last year Revenue came in at Rs 3,022 crore as compared to Rs 2,501
crore in the year ago period. Sobha Developers gained 2.2% to end at Rs 273 after
net profit rose 10.46% to Rs 58.10 crore on 26.48% increase in total income to
Rs 545.50 crore in Q3 December 2013 over Q3 December 2012.
The
crucial resistance for Nifty is now seen at 6100 and above this 6170.
Support for the immediate term is now placed at 5970 and next support
will be 5875.
News to watch:
·
Watch out for the quarterly earnings of
Bharat Forge, Jubilant Food on 4th Feb.
·
Watch out for the Indian HSBC Services
PMI on 5th Feb.
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