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- INDIAN BENCHMARKS slump as banks, metals drag.
Posted by : Simran Shah
Tuesday, 29 April 2014
INDIAN
EQUITY BENCHMARKS
closed in red for the third consecutive day with the weakness in banks, metals
and FMCG. Sesa Sterlite has reported net profit at Rs 1,621.6 crore in the
quarter ended March 2014, a growth of 13.2 percent compared to previous quarter
on higher revenues & other income and partly impacted by exceptional loss
& slow growth in operational performance.
Further,
Hexaware
Technologies declined nearly 11% after reporting 32% sequential drop in
consolidated net profit at Rs 70 crore for the quarter ended March 31, 2014,
due to decline in revenues from some of its top customers. Jindal Steel and
Power has tanked more than 9% after reporting a sharp 47% year-on-year drop in
consolidated net profit at Rs 403 crore for the quarter ended March 31, 2014.
The
crucial resistance for Nifty is now seen at 6780 and above this 6800.
Support for the immediate term is now placed at 6685 and next support will be 6665.