Thursday 7 August 2014
INDIAN EQUITY BENCHMARKS fell second straight day with
highly volatile trading session. The indices which flirted in the green zone
for a while saw a sudden bout of selling in the second half.
·
Further, Mahindra & Mahindra Ltd.’s credit
rating has been upgraded to AAA, by Credit Analysis & Research Ltd. (CARE).
The rating agency assigned its highest ‘CARE AAA’ level of rating for the
long-term bank facilities of M&M.
·
Bharti Infratel slumped 7.07%, as the
floor price for offer for sale of shares by promoter Bharti Airtel was set at a
discount to the stock's ruling market price.
The crucial resistance for Nifty is now seen at 7750
and above this 7840. Support for the immediate term is now placed at
7620 and next support will be 7595.
