Thursday, 19 June 2014
INDIAN
EQUITY BENCHMARKS ended with losses for second consecutive trading session.
Today’s decline was led by the Oil & gas stocks, especially the oil
marketing companies like BPCL, ONGC and IOC were badly battered amid concerns
of the escalating war situation in Iraq.
Further,
Shares in United Spirits dipped almost 8% as lenders to the UB-Group owned
Kingfisher Airlines have invoked shares of United Spirits that were pledged as
collateral. Sesa Sterlite Ltd has urged the Odisha government to
extend the benefits under the state's SEZ (Special Economic Zone) policy to run
its idle aluminium SEZ at Jharsuguda.
The
crucial resistance for Nifty is now seen at 7605 and above this 7670.
Support for the immediate term is now placed at 7500 and next
support will be 7485.
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