INDIAN BENCHMARKS snap three-day losing streak… autos drive gains
INDIAN EQUITY BENCHMARKS rose nearly 1 percent to snap a three-day losing streak after auto stocks such as Mahindra and Mahindra surged on healthy earnings, while strength in global shares on easing tensions over Ukraine also helped.
Further, Tata Motors Q1 PAT stood at Rs5.3bn. Total Income increased from Rs. 469.79bn for the quarter ended June 30, 2013 to Rs. 648.96bn for the quarter ended June 30, 2014.
Shares of Adani Enterprises Ltd reported a profit of 5.57 billion rupees (91.23 million US dollar) for the April-June period versus a loss of 2.78 billion rupees a year earlier.
The crucial resistance for Nifty is now seen at 7635 and above this 7680. Support for the immediate term is now placed at 7595 and next support will be 7540.
NEWS TO WATCH:
Watch out Quarterly Earnings of Apollo Hospital, BHEL, BPCL, Coal India, Jai Corp, NMDC, Natco Pharma, Oil India, Tata Power
on 12th August 2014.
Watch out CPI AND IIP data on 12th August 2014.
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