Tuesday 8 July 2014
INDIAN
EQUITY BENCHMARKS slumped, recording their largest drop in percentage terms
since January 27, 2014, as investors turned cautious and booked profits ahead
of the Budget session on Thursday.
Further,
Shares of Aban Offshore surge as much as 9.8 percent, their highest level since
May 14, 2010, on hopes the country's largest offshore drilling company may
enjoy higher rig rates in the coming quarters. ONGC has okayed
an expenditure sanction of an additional Rs 3,085.54 crore for hiring of five
more offshore jack-up rigs for a period of three years.
The
crucial resistance for Nifty is now seen at 7755 and above this 7820.Support
for the immediate term is now placed at 7595 and next support will be
7540.
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