INDIAN BENCHMARKS extend falls; NSE posts worst weekly loss in 3-1/2 yrs
INDIAN EQUITY BENCHMARKS fell for a fifth consecutive session on Friday to post its worst weekly fall since December 2011, continuing to reel after a forecast for weaker-than-expected monsoon raised fears the central bank would not cut rates again this year. The S&P BSE Sensex and CNX Nifty ended 0.17-0.20% lower each.
Headlines for the day:
Nestle drops on withdrawal of Maggi noodles in India after food scare
Lupin gets USFDA approval of Exforge HCT
Third round of coal auction to be conducted in August
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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