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Friday, August 1, 2014

 
INDIAN BENCHMARKS slumps on FII selling amid weak global cues

INDIAN EQUITY BENCHMARKS
slumped in late trades, amid weak global cues, on aggressive selling by institutional investors on concerns that robust US jobs data due later today may give the US Federal Reserve much needed comfort to taper its bond buying program and end its easy money policy stance by raising rates sooner-than-expected.

Further, Maruti Suzuki surged 2.5% after the company reported 21.7% increase in its total sales for July at 1,01,380 units as against 83,299 units in the same month last year.

Hero MotoCorp despatched 529,862 units of two wheelers in month of July 2014, registering a growth of 9% over the corresponding month of the previous year, when the Company had sold 487,545 units.

The crucial resistance for Nifty
is now seen at 7715 and above this 7785. Support for the immediate term is now placed at 7595 and next support will be 7530.

NEWS TO WATCH:

Watch out Quarterly Earnings of IGL, Oriental bank, Petronet, Tata Comm ,Power Grid,on 4th August 2014. 

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