INDIAN
EQUITY BENCHMARKS ended a volatile session on a flat note, with a negative
bias, amid profit taking in IT major Infosys post its first quarter earnings
last week. Also, investor sentiments were dampened after foreign institutional
investors sold Indian shares worth 7.23 billion rupees ($120.60 million) on
Friday.
·
Further, the wholesale price index (WPI)-based
inflation fell to a four-month low of 5.43% in June against 6.01% in the
previous month as the rate of food price rise declined.
·
Government has imposes additional penalty of
$579 mn on RIL for KG-D6 output lagging target. The total penalty on RIL for
producing less than target stands at US$2.376 bn.
The
crucial resistance for Nifty is now seen at 7478 and above this 7530.Support
for the immediate term is now placed at 7420 and next support will be
7360.
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