INDIAN BENCHMARKS Late Sell-Off dampens spirits; Nifty ends at 8700
INDIAN EQUITY BENCHMARKS fell to a one-month closing low on falling for the third straight session, as metal stocks such as Hindalco Industries plunged over an investigation into the allocation of coal blocks. The S&P BSE Se nsex and CNX Nifty ended 0.18%-0.14% lower each.
Jubilant Life Sciences rose 3.67%, after a foreign brokerage maintained its buy rating on the stock, citing attractive valuations
Hindalco Industries fell 5.51%, after media reports suggested that former Indian Prime Minister Manmohan Singh is accused of criminal conspiracy in allocation of coal block to the company
ABG Shipyard lost 7.93%, after the company denied media reports indicating that L&T is in race to buy stake in the company.
The crucial resistance for Nifty is now seen at 8820 and above this 8865. Support for the immediate term is now placed at 8670 and next support will be 8625.
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