INDIAN EQUITY MARKET WRAP UP - 05 JAN 2016

INDIAN BENCHMARKS: SENSEX ENDS 43 POINTS DOWN, NIFTY 50 HOLDS 7750

The domestic equity market traded range bound on Tuesday, tracking mixed cues from other Asian and European markets. While the Chinese state authorities intervened to ease the panic in the market, the volatility in stocks kept investors nervous, hampering initiation of fresh positions on the benchmarks.

The S&P BSE Sensex lost 43 points, or 0.17 per cent, to close the day at 25,580. Nifty50, the 50-stock barometer, closed at 7,785, down 6.69 points, or 0.1 per cent. Tata Steel and GAIL were the top gainers in the index. Selling was seen on the counters of HDFC Bank, TCS, Infosys and HUL, which weighed heavy on the BSE benchmark.

HEADLINES OF THE DAY

• Indraprastha Gas surges 6%; SC asks Oil Ministry to set up new CNG pumps in NCR.
• Reliance Cap gets CCI nod to acquire Goldman Sachs Onshore Asset management business.
• JSW Steel gets partial relief from Karnataka HC; stk up.

The crucial resistance for Nifty FUTURE is now seen at 7887 and above this 7940.Support for the immediate term is now placed at 7760 and next support will be 7711.

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