INDIAN BENCHMARKS end at one-month low on Sep F&O expiry
INDIAN EQUITY BENCHMARKS ended at one-month lows following the expiry of September derivative contracts weighed down by oil shares after the government deferred its decision on gas pricing till November 15.
Shares Jaypee Group companies such as Jaiprakash Associates, Jaiprakash Power Ventures Ltd (JPVL) and Jaypee Infratech plunged by up to 19% after Reliance Power called off a deal with Jaiprakash Power Ventures Ltd (JPVL) to buy the JVPL’s entire hydel power portfolio.
Further, Strides Arcolab fell 9.67%, after the company said it agreed to receive $150 million as the full and final settlement from US-based Mylan Inc.
The crucial resistance for Nifty is now seen at 8020 and above this 8040. Support for the immediate term is now placed at 7875 and next support will be 7775.
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