INDIAN BENCHMARKS ended towards seventh day of losses.
INDIAN EQUITY BENCHMARKS extended losses to end lower for the seventh straight day on profit taking in index heavyweights. TCS ended down nearly 2% at 2,049 on the NSE contributing the most to the Nifty's decline today. State Bank of India (SBI) reported its net profit for the quarter ended September 30, 2013 fell by 35.1% from a year earlier to Rs 2,375 crore.
Further, Sun Pharma ended up 1.6% ahead of its second quarter earnings due later today. Bata India has surged 5% to Rs 1,000, also its record high on NSE, after its parent company Bata BN BV acquired about 1% stake of the company through open market transaction.
Among other shares, Tata Global Beverages has dipped 6.6% to end at Rs 144 after reporting a 51% year-on-year (yoy) growth in consolidated profit to Rs 180 crore for the quarter ended September 30, 2013 (Q2).
The crucial resistance for Nifty is now seen at 6045 and above this 6095. Support for the immediate term is now placed at 5970 and next support will be 5875.
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