INDIAN BENCHMARKS slip on profit taking… Nifty holds 8,150

INDIAN EQUITY BENCHMARKS ended lower, amid weak European cues, as investors turned cautious and booked profits at higher levels after hit fresh record highs in the previous session.

•    Hindalco ended down 0.6% ahead of the SC verdict on the Mahan Coal block allocated to the company eight years ago to feed its aluminium plant in Madhya Pradesh.
•    Further, Larsen & Toubro acquired 50% of the stake in L&T-Ramboll Consulting Engineers Ltd (LTR) from its joint venture partner Ramboll Denmark AS.

The crucial resistance for Nifty is now seen at 8180 and above this 8210. Support for the immediate term is now placed at 8125 and next support will be 8105.
   
   NEWS TO WATCH:

•    Watch out for the CPI and IIP data on 12TH Sep. 2014.
•    Watch out for the Trade balance ,Export and Import data on 12TH Sep. 2014

MORNING MAIL 27 August 2014

INDIAN BENCHMARK open on a bullish note tracking a firm trend across markets in Asia after reports from US indicated that the world’s largest economy is strengthening.

FURTHER, Shares of defence equipment makers rose after the government notifies increase in FDI limit to 49% through approval route in the defence sector. ONGC rose over 2%, on hopes of reforms on subsidies and gas prices ahead of ONGC's share sale.

Trend in FII flows: The FIIs were net buyers of Rs 192cr in the cash segment on Tuesday while the DIIs were net sellers of Rs. 259cr, as per the provisional figures released by the NSE.

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