INDIAN BENCHMARKS fall for 2nd day on Fed worries
INDIAN EQUITY BENCHMARKS retreated for the second straight day from record highs on concerns that foreign funds may start trimming their exposure to emerging markets if the US Federal Reserve hikes interest rates sooner-than-expected. Further, the weak rupee also weighed on market sentiment.
Wockhardt said a meeting of the board of directors of the company will be held on September 15, 2014, to consider and approve amalgamation of two wholly owned subsidiaries viz Wockhardt Biopharm and Vinton Healthcare with company.
Further, Tata Steel said its 6 MTPA steel plant at Kalinga Nagar in Odisha's Jajpur district will be commissioned by March 2015. The company is also planning to start work on its ferro-alloy plant at Gopalpur in Ganjam district next year.
The crucial resistance for Nifty is now seen at 8135 and above this 8175. Support for the immediate term is now placed at 8080 and next support will be 8035.
NEWS TO WATCH:
Watch out for the CPI and IIP data on 12TH Sep. 2014.
Watch out for the Trade balance ,Export and Import data on 12TH Sep. 2014.
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