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Monday, April 28, 2014

INDIAN BENCHMARKS end lower amid weak Asian cues.

INDIAN EQUITY BENCHMARKS ended lower, amid a range bound trading session, tracking weakness among Asian peers while the geo-political crisis in Ukraine also dampened market sentiment.

Further, Wock Pharma surged by 11.7% after the regulator in Himachal Pradesh has revoked the suspension of the manufacture and sale of three drugs. UPL has surged 20% after reporting a robust 28% year-on-year growth in adjusted consolidated net profit at Rs 405 crore for the fourth quarter ended March 31, 2014 mainly due to higher operational income and lower employee costs.

The crucial resistance for Nifty is now seen at 6800 and above this 6830. Support for the immediate term is now placed at 6700 and next support will be 6670.

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