INDIAN BENCHMARKS fall for 3rd session, state-run firms drop
INDIAN EQUITY BENCHMARKS fell for a third consecutive session to their lowest in nearly two weeks as three state-run companies, including Oil and Natural Gas Corp, slumped after the government said it would decline its stakes in them.
Oil India is working on the process to transfer the overseas assets to the wholly-owned subsidiary Oil India International.
Further, Bharat Electronics rose 3.41%, after a domestic brokerage firm initiated buy rating on the stock.
The crucial resistance for Nifty is now seen at 8135 and above this 8175. Support for the immediate term is now placed at 8055 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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