INDIAN BENCHMARKS end lower, weighed down by weak industrial earnings
INDIAN EQUITY BENCHMARKS fell on Friday as weak results of industrial goods makers raised fresh concerns over a much-anticipated recovery in India's investment cycle and earnings growth, while caution also prevailed ahead of U.S. jobs data due later in the day. The S&P BSE Sensex and CNX Nifty ended 0.22%-0.28% lower each.
Headlines for the day:
BHEL Q1 disappoints; net profit down 83%
Corporation Bank Q1 net profit down 12%; asset quality worsens
M&M positive surprise on margins; PAT beats
Grasim Inds reports Q1 consolidated net profit at Rs485 cr
The crucial resistance for Nifty is now seen at 8670 and above this 8705. Support for the immediate term is now placed at 8550 and next support will be 8505.
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