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Friday, May 9, 2014

INDIAN BENCHMARKS close at record highs.

INDIAN BENCHMARK ended at record closing highs and were gripped by buying frenzy on hopes that the Modi-led Bharatiya Janata Party would attain a comfortable majority in the elections.

Further, Ranbaxy Laboratories Ltd has posted results for the fifth quarter ended 31st March 2014.The net loss for the quarter stood at Rs73.6 crores. Its revenue stood at Rs2467 crores. NIIT Technologies FY2014 revenues up 14% over the previous year to Rs. 2305 Crores and operating profits improved by 7% to Rs. 351 Crores. PAT for the year was Rs. 230 Crores.

The crucial resistance for Nifty is now seen at 6870 and above this 6900. Support for the immediate term is now placed at 6630 and next support will be 6580.

NEWS TO WATCH:
Watch out for the quarterly earnings of Just Dial, Finolex Cables and Bank of India on 12TH May 2014.

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