INDIAN EQUITY MARKET WRAP UP -18 AUG 2015

INDIAN BENCHMARKS , Promising start, Muted ending: Nifty below 8500

INDIAN EQUITY BENCHMARKS ended lower in choppy trade on Tuesday as investors pared positions on risk aversion after a steep fall in Chinese equities, and on worries at home that the monsoon may be deficient. The S&P  BSE Se nsex and CNX Nifty ended 0.17%-0.13% lower each.

Headlines for the day:

 ·         IT stocks up on strong US economic data

·         ITNL board to mull on rights issue

·         Moodys Ratings cut India GDP growth forecast for 2015

The crucial resistance for Nifty is now seen at 8555 and above this 8595. Support for the immediate term is now placed at 8425 and next support will be 8395.
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