INDIAN EQUITY MARKET WRAP UP- 29 SEP 2015

INDIAN BENCHMARKS end up after RBI's bigger-than-expected rate cut

                                                                   

INDIAN EQUITY BENCHMARKS  ended higher , reversing losses of more than 1 percent earlier in the session, after the central bank surprised the street with a bigger-than-expected rate cut. The S&P BSE Se nsex and CNX Nifty ended 0.63% and 0.61% higher each.

Headlines for the day:

Indian Sugar output likely to fall by 5% to 27 million tons.
RBI reduces repo rate by 50 bps – Positive for Banks.
Stock which gained over 400% in 2015 so far.

The crucial resistance for Nifty is now seen at 7875 and above this 7915. Support for the immediate term is now placed at 7815 and next support will be 7785.

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