INDIAN BENCHMARKS Worries over delay in land, tax reforms spook Indian shares
INDIAN EQUITY BENCHMARKS fell on Tuesday, giving up most of their gains made in the previous two sessions, as stocks across the board declined on worries that key land acquisition and tax reforms would be delayed further. The S&P BSE Sensex and CNX Nifty ended 2.29-2.38% lower each.
Headlines for the day:
Union Bank Q4 profit hit by Tax Write Back; Asset Quality Improves
Motherson Sumi Q4 consolidated net profit up 12% (YoY)
Dr Reddys Q4 consolidated net profit up 8% (YoY); Marginally better than Est
Central Bank of India March-qtr profit up about 7%
The crucial resistance for Nifty is now seen at 8225 and above this 8275 . Support for the immediate term is now placed at 8095 and next support will be 8050.
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