INDIAN EQUITY MARKET WRAP UP-23 July 2014

INDIAN BENCHMARKS end at record closing highs

INDIAN EQUITY BENCHMARKS gained for the seventh straight session to end at record closing highs led by gains in technology stocks on continued foreign-investor buying.

Further, Mcleod Russel India has announced results for the quarter ended June 30, 2014 YoY. The Company has posted a net loss of Rs32.00 crore Vs to net profit of Rs26.21 crore YoY. Total Income has decreased to Rs119.54 crore Vs Rs191.73 crore YoY.

Sun TV plunged 7.07%, after attorney general Mukul Rohatgi cleared the prosecution of promoter Kalanithi Maran’s brother and former Union minister Dayanidhi Maran by the CBI.

The crucial resistance for Nifty is now seen at 7810 and above this 7850. Support for the immediate term is now placed at 7752 and next support will be 7705.

NEWS TO WATCH:
Watch out Quarterly Earnings of ACC LTD, Century Textile, DHFL, Glenmark Pharma, SKS MicroFinance, Wipro, TVS Motors, M&M Financial, Biocon, Ambuja Cement 24TH July 2014.

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