INDIAN EQUITY MARKET WRAP UP - 27 APR 2016

INDIAN BENCHMARKS: SENSEX ENDS 57 POINTS HIGHER, NIFTY 50 HOLDS 7950

After Tuesday's high, investors turned cautious on Wednesday ahead of the outcome of the US Fed Reserve's rate-setting meeting later in the day and April series F&O expiry on Thursday.

The market opened in the red, but bounced back quickly to notch up gains. Throughout the day, the market continued to trade with marginal gains. Though it was not a great day, it was not too bad either, as green shoots were visible in the fourth quarter numbers. Yes Bank 0.55 %, Lakshmi Vilas Bank and Gateway Distripark posted strong earnings for the March quarter.

S&P BSE Sensex end at 26,064.12, up 56.82 points or 0.22 per cent. The broader Nifty50 closed at 7,979.90, with a gain of 17.25 points or 0.22 per cent.

Adani Ports (up 5.09 per cent), Bharti Airtel 3.54 % (up 3.54 per cent) ONGC (up 3.41 per cent), Gail (up 2.64 per cent) and M&M (up 2.20 per cent) were the major gainers in the 30-share pack. ICICI Bank (down 3.66 per cent), Axis Bank (down 3.11 per cent), SBI (down 2.17 per cent), Bhel (down 0.89 per cent) and Tata Steel (down 0.50 per cent) were the major laggards.

UPCOMING RESULTS TOMORROW: ACC, AMBUJA, DABUR, HCLTECH, IDEA, KAJARIA CERAMIC, VEDANTA, GRANULES, KPRMILL, TATAELXSI

HEADLINES OF THE DAY

M&M launches bigger variant of Bolero pick-up truck.

Yes Bank reports robust operating performance; Asset quality deteriorates.

Aurobindo Pharma receives USFDA approval for Oxymorphone Tablet.

The crucial resistance for Nifty SPOT is now seen at 8026 and above this 8135. Support for the immediate term is now placed at 7850 and next support will be 7775.

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