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Thursday, March 13, 2014

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INDIAN BENCHMARKS ended with losses led by IT bellwether Infosys

INDIAN BENCHMARKS erased early gains in the last half hour of trade as investors scrambled to book profits after last three days of consolidation. Infosys crashed 8.5 per cent to 3,357.50 on reports that the management expects sluggish growth in January-March quarter in the current financial year.


Further, Jubilant Life Sciences has moved higher by 8% to Rs 153 after the company announced a price increase of 18% for Niacin feed-grade, with

immediate effect. Sun Pharmaceutical Industries has dipped nearly 4% after the US Food and Drug Administration (FDA) has issued an import alert for all products manufactured at its plant at Karkhadi, Gujarat.

The crucial resistance for Nifty is now seen at 6565 and above this 6600. Support for the immediate term is now placed at 6410 and next support will be 6340.

NEWS TO WATCH:

Watch out for the Wholesale Price Index (WPI) on 14TH March. 

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