INDIAN BENCHMARKS fall most in 1-1/2 months ahead of Fed outcome
INDIAN EQUITY BENCHMARKS fell over 1 percent, posting their biggest single-day decline in 1-1/2 months as blue-chips slipped on caution ahead of the U.S. federal Reserve's two-day meeting while foreign portfolio sales also weighed on sentiment.
Colgate-Palmolive (India) rose 2.8 percent after Credit Suisse upgraded the stock to "outperform" from "underperform.
Further, Yes Bank Ltd fell 4 percent, extending Monday's 5.2 percent slump after MSCI excluded the lender from its standard and mid-cap indexes.
The crucial resistance for Nifty is now seen at 8045 and above this 8075. Support for the immediate term is now placed at 7925 and next support will be 7865.
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