INDIAN EQUITY MARKET WRAUP - 13 JAN 2016

INDIAN BENCHMARKS: SENSEX ENDS 172 POINTS HIGH,NIFTY 50 HOLD 7550 LEVEL ON CLOSING BASIS

The domestic equity market on Wednesday made a strong comeback from a nearly 300-point fall, as buying emerged at lower levels.

Earlier, Sensex and Nifty50 had started the day on a strong note, but could not hold on to the gains and plunged to their new 52-week lows at 24,387.69 and 7,425.80 points, respectively.

But an hour before closing, the benchmark indices staged a rally of nearly 500 points on the Sensex to end the day strongly. While Sensex closed the session at 24,854 points, up 0.7 per cent, Nifty50 logged a gain of 52 points or 0.7 per cent to end at 7,562

HEADLINES OF THE DAY

• IIP, CPI data disappoint.
• TCS Q3 misses muted expectations, 6th straight quarter of earnings.
• SBI to monetize non-core assets over next 3 years.

The crucial resistance for Nifty SPOT is now seen at 7610 and above this 7752.Support for the immediate term is now placed at 7487 and next support will be 7440.

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