INDIAN EQUITY MARKET WRAP-UP 18 SEP 2015

INDIAN BENCHMARKS end up 1 pct on rate-cut hopes

                                                                   

INDIAN EQUITY BENCHMARKS ended 1% higher, touching its highest intra-day level in over 3-weeks, on hopes that the US Federal Reserve's decision overnight to hold rates would widen the door further for the Reserve Bank of India to cut rates. The S&P BSE Sensex and CNX Nifty ended 0.98%-1.05% higher each .

Headlines for the day:

Tata Steel to sell shares in Tata Motors worth up to $188 mn
SKS Micro drops on failing to bag small bank license
Worst is over; upgraded to Buy
                          

The crucial resistance for Nifty is now seen at 8005 and above this 8050. Support for the immediate term is now placed at 7925 and next support will be 7895.

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