INDIAN BENCHMARKS ended in red on Profit booking...Sensex, Nifty snap winning streak
INDIAN EQUITY BENCHMARKS snapped its nine-day winning streak as investors booked profit at higher levels. FMCG, Metal index and the Pharma sectors all the other major sectoral indices ended in the red.
Tata Steel fell sharply after the local government in the eastern province of Jharkhand ordered 12 of the 17 operational iron-ore mines to shut down with immediate effect.
Further, Shares of Idea Cellular ended lower by 2.5% on reports that private equity investor Providence Equity Partners planning to sell part of its stake in the mobile service provider at a discount to the current market price.
The crucial resistance for Nifty is now seen at 8115 and above this 8140. Support for the immediate term is now placed at 8060 and next support will be 8035.
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