Friday, 13 June 2014
INDIAN EQUITY BENCHMARKS ended with a big
fall with increase in crude oil prices amid increasing violence in Iraq.
Brent
crude oil hit a nine-month high near USD 115 a barrel as the United States threatened
military action against Islamist militants who have taken towns and cities in
Iraq, raising concerns over its oil exports.
Further, Hero MotoCorp is planning to
enter Brazil by 2016 as it looks to consolidate position in the fast growing
South American market. Lupin has launched its Ciprofloxacin for Oral
Suspension, 5 g/100 mL and 10 g/100 mL in the US having received final approval
from the FDA earlier.
The crucial resistance for Nifty is now
seen at 7670 and above this 7700. Support for the immediate term
is now placed at 7520 and next support will be 7475.
