Tuesday, 15 April 2014
INDIAN BENCHMARKS ended lower, weighed
down by financial shares, as the spike in whole-sale-price inflation to 3-month
highs in March could lead to a delay in policy rate cuts by the central bank in
the near to medium term. The
wholesale price index-based inflation rose to a three-month high of 5.70% in
March from a nine-month low of 4.68% in February.
Further, Shares of United
Spirits hit record high up 15 percent on report that liquor company
Diageo has announced to launch tender offer to acquire 26 percent further in
United Spirits. Gruh
Finance rose 7.36% after the company's net profit rose 16.71% to Rs 73.60 crore
on 31% growth in total income to Rs 254.42 crore in Q4 March 2014 over Q4 March
2013.
The crucial resistance for Nifty is now seen at 6830
and above this 6870. Support for the immediate term is now placed at
6700 and next support will be 6670.
