INDIAN EQUITY MARKET WRAP UP - 12 FEB 2016

INDIAN BENCHMARKS: SENSEX ENDS CHOPPY SESSION 34 POINTS UP, NIFTY 50 BELOW 7000

Domestic equity benchmark Sensex gyrated some 560 points between gains and losses all through Friday amid mixed global cues, but ended flat with a slight positive bias. In the process, the benchmark indices logged their biggest weekly drops since July 2009, with the Sensex poorer by 6.62 per cent for the week and Nifty50 down some 6.80 per cent.

Capital goods major BHEL -13.13 % plunged some 14 per cent after swinging into losses in December quarter, while Adani Ports lost nearly 6 per cent on poor earnings. The duo, along with ONGC (down 4.64 per cent) and L&T (down 3.60 per cent) were the biggest losers in the Sensex pack.

UPCOMING RESULTS:

BANKBARODA, JINDAL STEL, ALLCARGO,HDIL,GITANJALI,

HEADLINES OF THE DAY

Canara Bank Q3 net profit down 87% (YoY)

M&M Q3 net profit down 14% (YoY)

Sun Pharma Q3: Cons Net Profit at Rs1, 417 Cr Vs Rs395 Cr (YoY)

The crucial resistance for Nifty SPOT is now seen at 7120 and above this 7228. Support for the immediate term is now placed at 6910 and next support will be 6869.

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