INDIAN BENCHMARKS, Selling pressure grips market; Correction continues
INDIAN EQUITY BENCHMARKS fell for the second consecutive day on Tuesday, down to their lowest in one month, as investors cashed out tracking a selloff in Chinese markets and hurt blue-chips such as Oil and Natural Gas Corp. The S&P BSE Se nsex and CNX Nifty ended 1.15%-1.16% lower each.
- On Mobile Global hit 5% upper circuit, after the company said its board will meet on December 11, 2014, to consider buyback of shares.
- Technofab Engineering rose 2.69% after the company said it won two contracts worth an aggregate Rs262 crore.
- Ahluwalia Contracts dropped 5.63% after making preferential allotment of shares to promoters at Rs118 per share, a discount of 42.88% to ruling price.
The crucial resistance for Nifty is now seen at 8510 and above this 8595. Support for the immediate term is now placed at 8355 and next support will be 8220.
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