INDIAN EQUITY MARKET WRAPUP - 10 AUG 2015

INDIAN EQUITY BENCHMARKS  gave up early gains on Monday and ended nearly half a percent lower, marking their biggest single-day loss in two weeks, after a government official fanned doubts that the goods and service tax (GST) bill was unlikely to be cleared in the current session of parliament. The S&P BSE Sensex and CNX Nifty ended 0.48%-0.46% lower each.

Headlines for the day: 

• J&K Bank Q1 net profit up 22% (YoY)
• Adani Ports Q1 consolidated net profit up 13% (YoY)
• Wockhardt consolidated Q1 net profit sees 4-fold jump
• Jain Irrigation Q1 consolidated net profit down 7% (YoY)

Results on August 11, 2015

• SBI, Apollo Tyres, Bosch, JK Lakshmi Cement, Tata Steel, Jubilant Life Science, Apollo Hospitals,
• Godrej Industries, HPCL, IFCI, Hind. Copper, Adani Enterprises, Sun Pharma Inds., NMDC, Reliance Power, Prestige Estates, Hathway Cable .

The crucial resistance for Nifty is now seen at 8625 and above this 8590. Support for the immediate term is now placed at 8500 and next support will be 8475.

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