INDIAN EQUITY MARKET WRAP UP - 02 MAY 2016

INDIAN BENCHMARKS: SENSEX ENDS 170 POINTS DOWN, NIFTY 50 AT 7805

The S&P BSE Sensex slipped over 200 points in early morning's trade on Monday tracking weak cues from other Asian markets. The index was led lower by losses in ICICI Bank, Infosys, HDFC and Infosys.

The 50-share NSE barometer Nifty50 also trade weak and tested its crucial resistance of 7,800 dragged by FMCG, banking, IT, realty and pharma stocks.

The broader market traded lower with the BSE midcap and small cap index slipping 0.05 and 0.15 per cent, respectively.

The rupee dropped 6 paisa to 66.39 against the US dollar in early trade on Monday amid lack of cues from Asian currency markets.

UPCOMING RESULTS TOMORROW: ADANIPORT, ADANIPOWER, GODREJ CONSUMER, TVS MOTOR, CENTURYTEX, INTELLECT, MRF

HEADLINES OF THE DAY

TVS Motor receives approval for Rs310 crore expansion plan.

RBI allows up to 60% Foreign Holding in Yes Bank.

Ujjivan IPO gets oversubscribed 1.22 times.

The crucial resistance for Nifty SPOT is now seen at 7991 and above this 8135. Support for the immediate term is now placed at 7772 and next support will be 7663.

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