INDIAN BENCHMARKS post biggest weekly fall this year on inflation data
INDIAN EQUITY BENCHMARKS fell nearly 1.5 percent on Friday, marking their biggest weekly fall this year, as lenders slumped after an increase in consumer inflation data raised concerns about interest rate cuts and sent bond yields surging. The S&P BSE Sensex and CNX Nifty ended 1.48%-1.46% lower each.
·IOB slumps 6% to mark 52 week low
·Bajaj Auto under pressure; stock hits nine-month low
·Vimta Labs spurts 20% on huge volumes
·JLR February 2015 global retail volumes down 5.9% YoY
The crucial resistance for Nifty is now seen at 8735 and above this 8766. Support for the immediate term is now placed at 8640 and next support will be 8570.
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