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Friday, September 5, 2014

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INDIAN BENCHMARKS ended with modest losses

INDIAN EQUITY BENCHMARKS remained under selling pressure amid consolidation in afternoon trade weighed down by private banks and auto stocks.

JSW Steel reported crude steel production for August 2014, at 11.16 lac tonnes showing a growth of 13% over corresponding month of previous year.

Further, Shares of Unied Spirits plunged by 4% after the company posted a loss of Rs 5,380 crore for the March quarter, largely because of write-downs related to the sale of its Whyte & Mackay whisky business.

The crucial resistance for Nifty is now seen at 8125 and above this 8140. Support for the immediate term is now placed at 8050 and next support will be 8035.

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