INDIAN EQUITY BENCHMARKS rose about 0.5 percent to a four-week high on Friday after State Bank of India reported a lower-than-expected bad loan ratio and a sharp increase in profits, raising optimism about the banking sector. The S&P BSE Sensex and CNX Nifty ended 0.53%-0.45% higher each.
Headlines for the day:
- SBI Q4 above Estimates; Asset Quality Improves
- Strides Arcolab Q4 net profit at Rs70 cr (YoY)
- Punj Lloyd: Other Income Boosts Profit
- Karnataka Bank Good Q4 earnings; Asset Quality Improves
The crucial resistance for Nifty is now seen at 8491 and above this 8524 . Support for the immediate term is now placed at 8422 and next support will be 8386.
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