INDIAN BENCHMARKS fell on weak global cues.
INDIAN EQUITY BENCHMARKS fell over 1%, snapping two days of gains, as lenders slumped on worries that a sell-off in government bonds would hit the value of their debt holdings.
Further, Infosys rose 2.01% on reports that three former executives have asked the company to buyback shares worth Rs11200 crore.
Jindal Steel & Power Ltd has announced results for the quarter ended June 30, 2014.Net profit at Rs 306.27 crore vs Rs238.86 crore YoY. Total Income at Rs3605.78 crore vs Rs3431.45 crore YoY.
The crucial resistance for Nifty is now seen at 7750 and above this 7840. Support for the immediate term is now placed at 7640 and next support will be 7595.
NEWS TO WATCH:
Watch out Quarterly Earnings of Chennai Petro, Jubilant food, Aurobindo Pharma, India Cement, Oracle Finance on 7th August 2014.
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