INDIAN EQUITY MARKET WRAP UP - 09 NOV 2015

INDIAN BENCHMARKS: NIFTY CUT LOSSES AFTER INITIAL CRASH

The market has shown smart recovery, though it closed half a percent down on Monday after knee-jerk reaction to Bihar elections results announced Sunday. The Sensex crashed 608 points in early trade but short covering and value buying in major auto, PSU banks stocks helped it gradually get back above 26000 level. The 30-share BSE Sensex fell 143.84 points or 0.55 percent to 26121.40 and the 50-share NSE Nifty declined 39.10 points or 0.49 percent to 7915.20.

Headlines of the day:

Maruti launches WagonR with AMT technology.

HPCL reports Q2 net loss at Rs320.50 cr.

SUNPHARMA tanks 7% on poor results.

RESULT’S ON 10 NOV 2015:

HINDALCO ,NMDC,NCC,RENUKA

The crucial resistance for Nifty is now seen at 7990 and above this 8045. Support for the immediate term is now placed at 7890 and next support will be 7840.

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