INDIAN EQUITY MARKET WRAP UP - 11 APR 2016

INDIAN BENCHMARKS: SENSEX ENDS 348 POINTS HIGHER, NIFTY TOPS 7670

Just when you thought it might be another bad day for the equity market, the benchmark indices made a sharp rebound to notch up some smart gains on Monday.

The market was flat till about 2 pm, but surprised one and all as the Sensex began a steep climb to record a 348-point rally and reclaim the 25,000 mark. In tandem, the broader market Nifty50 index gained 116 points to top 7,670.

Bank and IT stocks led the rally, which came just ahead of the March quarter earnings season that kicks off with IT bellwether Infosys' numbers over the weekend.

HEADLINES OF THE DAY

Tata Motors surges on reporting good global wholesales.

Sun Pharma gets USFDA nod for BromSite.

RIL, BP discuss with government to drop arbitration.

The crucial resistance for Nifty SPOT is now seen at 7713 and above this 7740. Support for the immediate term is now placed at 7590 and next support will be 7535.

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