INDIAN EQUITY MARKET WRAP UP - 02 MAR 2016

INDIAN BENCHMARKS: BANK RALLY LIFTS MARKET BY 464 POINTS, NIFTY 50 TOPS 7365.

Top domestic lenders helped extend the post-Budget rally in equities for the second consecutive day on Wednesday, when the BSE S&P Sensex surged as much as 491 points to top the 24,000 mark.

SBI and ICICI Bank, Adani Ports (up 5.96 per cent), Hero Moto Corp (up 4.99 per cent) and BHEL (up 4.91 per cent) were among the top five gainers.

The NSE's Nifty50 closed at 7,368.85, up 146.55 points or 2.03 per cent. Along with SBI and ICICI Bank, Bank of Baroda (up 7.25 per cent) and PNB (up 6.5 per cent) were the top gainers in the Nifty50, where the advance-decline ratio stood at 41:9.

HEADLINES OF THE DAY

HCL Tech bags 5-year IT outsourcing services contract.

Hero MotoCorp surges on sharp February 2016 volumes.

BHEL rallies on winning order worth Rs5600 crore.

The crucial resistance for Nifty SPOT is now seen at 7417 and above this 7513. Support for the immediate term is now placed at 7250 and next support will be 7145.

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