INDIAN BENCHMARKS staged a smart
recovery from day lows, in late trades, to close the week in green. The closing
hour gains were led by index heavyweights and short covering in financial
shares. The
wholesale-price index rose 4.68% from a year earlier, compared with 5.05% in
January.
Further, Dr Reddy’s Laboratories has
voluntarily recalled 58,656 bottles of its Lansoprazole formulation from the
American market due to microbial contamination. The Supreme Court
issued a notice the government and Ranbaxy on a public-interest litigation
seeking a CBI probe against the company for allegedly supplying adulterated drugs
in the country.
The
crucial resistance for Nifty is now seen at 6562 and above this 6600.
Support for the immediate term is now placed at 6410 and next support
will be 6340.
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