INDIAN BENCHMARKS ended flat, amid a volatile trading session.
INDIAN EQUITY BENCHMARKS ended flat for a second straight session as software services exporters rose ahead of their quarterly results although sentiment overall was broadly cautious due to the continued U.S. budget standoff. Outside of some sectors such as the technology services, which are expected to see stronger overseas demand from key markets, analysts worry that weakening economic growth and the rupee volatility will constrain earnings.
Further, Banking stocks slump, ICICI Bank Ltd is down 1.8 percent, while HDFC Bank Ltd falls 1.5 percent. Tata Motors Ltd falls near about one percent on profit taking after touching an all-time high in index.
The crucial resistance for Nifty is now seen at 5950 and above this 0610. Support for the immediate term is now placed at 5850 and next support will be 5790.
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