INDIAN BENCHMARKS record highest percentage fall in a day since Jan '14

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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