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Indian equities witnessed profit booking near their all-time highs as key benchmark indices tumbled. The Nifty closed well below the 6100 level. The sell-off by foreign and domestic investors on rate hike fears in China, payment default by the Dubai group and disappointing industrial production data shook the markets. Industrial output in September 2010 rose at a much slower-than-expected rate of 4.4% from 8.2% a year ago. | ||||||
On a week-on-week basis, the Sensex was down by 758 points or | ||||||
3.7% to close at 20156.90 | ||||||
The Nifty was down by 210 points, or 3.8%, to finish at 6071.65 | ||||||
The fall was purely led by heavyweights - especially State Bank of | ||||||
India, DLF, Unitech and Bharti Airtel | ||||||
In global markets, Ireland warned on Thursday of a surge in its | ||||||
borrowing costs to record highs | ||||||
The $1.7 billion follow on public offer of state-run Power Grid | ||||||
Corporation was subscribed 13.58 times by 15:00 IST on the last day of bidding today, NSE data showed | ||||||
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On the data front, third-quarter euro-zone GDP is due on Friday | ||||||
along with euro-zone industrial-production data | ||||||
In domestic data, the wholesale price index for October will be | ||||||
announced on Monday, November 15, 2010 | ||||||
In global data next week, the market will keep a close watch on US | ||||||
retail sales, housing statistics and jobless claims data | ||||||
For the coming week, there may be some pressure on the markets. | ||||||
However, for the Nifty, the supports are likely to be 6000 followed by 5930. On the higher side, the Nifty has resistance at 6220 and 6310 levels |
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