INDIAN EQUITY MARKET WRAP UP - 16 NOV 2015

INDIAN BENCHMARKS, Bulls claw back: Nifty above 7800

                                                                   

India's stock markets bounced back to post its biggest single-day percentage gain in a month on local media reports that the government would discuss a roadmap to roll out the proposed goods and services tax (GST) next month. The S&P BSE Sensex and CNX Nifty ended 0.58% and 0.57% higher each.

 Major Headlines:

§  October WPI at -3.81%

§  JLR October 2015 global wholesale volumes up 26.9% YoY

§  Petrol price hiked by 36 paise; diesel up 87 paise .                                                                                  

The crucial resistance for Nifty is now seen at 7865 and above this 7905. Support for the immediate term is now placed at 7705 and next support will be 7675.

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