INDIAN BENCHMARKS
up, beat
Jan WPI data
INDIAN
BENCHMARKS staged a
recovery led by gains in IT majors and index heavyweight like
Reliance and Tata
Motors after key indices declined sharply in the previous
session. WPI for January
fell to 5.05% over January, 2013 as compared to 6.16% for the
previous month
and 7.31% during the corresponding month of the previous year.
Further,
SBI posted a 34% decline in net
profit at Rs 2,234.34 crore for the third quarter ended
December 31, 2013 on
account of higher provisioning for bad loans. Shares of Future Retail gained
by
1.5% to Rs. 82 after the company reported a net profit of Rs
21.74 crore for
the fourth quarter ended December 31, 2013
The
crucial resistance for Nifty is now seen at 6110 and
above this 6175.
Support for the immediate term is now placed at 5965 and
next support
will be 5930
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