INDIAN BENCHMARKS end tad lower amid consolidation.
INDIAN EQUITY BENCHMARKS ended with marginal losses, amid a lacklustre trading session, as investors booked profits after the sharp rally yesterday which saw the Sensex and Nifty hitting fresh record highs. The losses were led by oil and gas shares.
Further, Ranbaxy Laboratories has gained 3.8%, its highest level since November 2012 after after USFDA granted approval to Ranbaxy's subsidiary Ohm Laboratories to manufacture and sell generic Diovan in the US. Sesa Sterlite closed 2% higher after the company was permitted to resume production in the Goa state in September.
The crucial resistance for Nifty is now seen at 7755 and above this 7785. Support for the immediate term is now placed at 7675 and next support will be 7620.
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