INDIAN BENCHMARKS close at 3-1/2 month low; NSE falls below 200-DMA.
INDIAN EQUITY BENCHMARKS closed at their lowest in more than three-and-a-half months on Monday, with the NSE index falling below its 200-day moving average for the first time in nearly 15 months, led by declines in blue chips on continued worries about retrospective taxes and lower-than-expected January-March earnings so far. The S&P BSE Sensex and CNX Nifty ended 0.95-1.10% lower each.
Results on April 28, 2015
Idea Cellular, Godrej Consumer, KPIT Technologies, Bharti Airtel, Welspun Corp, Shriram City Union, Tata Elxsi.
Headlines for the day:
Maruti surges as Q4 profit beats estimates on strong margins.
ICICI Bank drops as Q4 asset quality worsens; profits in-line.
Andhra Bank Q4 net profit more than doubles; Asset Quality Improves.
The crucial resistance for Nifty is now seen at 8350 and above this 8395. Support for the immediate term is now placed at 8185 and next support will be 8125.
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