INDIAN EQUITY MARKET WRAPUP-28 FEB 2015

INDIAN EQUITY BENCHMARKS  rose in a volatile trading session after the government delivered a federal budget with investment-friendly measures, including a delay in tax avoidance rules for foreign investors and a cut in the corporate tax rate. The S&P BSE Sensex and CNX Nifty ended 0.48%-0.65% higher each.

·Arun Jaitley Presents Union Budget 2015 .
·Initial reaction to Union Budget 2015-16: Infra push but no big-bang reforms.
·India to cut corporate tax to 25% over 4 years.
·FM: Defers anti-tax avoidance rules by 2 years.
The crucial resistance for Nifty is now seen at 8995 and above this 9025. Support for the immediate term is now placed at 8925 and next support will be 8885.
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