May 16, 2018 / 5:58 AM / in 4 months

BUZZ-India's Syndicate Bank hits more than 9-yr low on Q4 loss

** Syndicate bank shares fall as much as 12.35 pct to 44.00 rupees, lowest since March 16, 2009

** The bank on Tuesday reported its biggest quarterly loss, at 21.95 bln rupees ($323.57 mln) versus profit of 1.04 bln rupees last year

** March-quarter provisions for NPA rose to 35.45 bln rupees from 11.93 bln rupees a year ago

** Stock breaks below a support at 46 rupees, the 38.2 pct Fibonacci projection level of the downtrend from July 3, 2014 high to Feb 17, 2016 low reut.rs/2KufzMf

** That suggests stock may fall to the next support at 30.6 rupees, the 50 pct projection level

** Stock down 43.66 pct in the last one year as of Tuesday’s close, while the NSE Index is up 14.36 pct in the same period ($1 = 67.8375 Indian rupees) (Reporting by Gaurav Dogra)

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