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Friday, August 8, 2014

INDIAN BENCHMARKS mark second consecutive weekly fall on geopolitical concerns

INDIAN EQUITY BENCHMARKS flat-to-lower as investors eye global factors. Concerns about potential U.S. strikes on Iraq and tensions between the West and Russia are among geo-political risk factors.

Further, JSW Steel reported Crude Steel Production for July 2014, at 11.13 lac tonnes showing growth of 12% over corresponding month of previous year.

Corporation Bank  net profit slipped 38.8 percent year-on-year to Rs 231.4 crore in the quarter ended June 2014 dented by lower net interest income and other income, and higher provisions

The crucial resistance for Nifty is now seen at 7600 and above this 7680. Support for the immediate term is now placed at 7540 and next support will be 7460.

Watch out Quarterly Earnings of GAIL, SAIL, Tata Motors, Divis Lab, Jain Irrigation, Muthoot Finance, Monnet Ispat on 11th August 2014.

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