INDIAN EQUITY MARKET WRAP UP - 04 MAY 2016

INDIAN BENCHMARKS: SENSEX SLIDES 128 POINTS ON WEAK GLOBAL CUES, NIFTY 50 HOLDS 7700

The S&P Sensex opened with losses on Wednesday, slipping over 128 points as negative cues from other Asian markets and Wall Street overnight weighed on investors' sentiments.

The losses on the index were led by ICICI Bank, Tata Motors, Adani Ports, TCS and L&T.

The 50-share NSE barometer Nifty also traded below its crucial support level of 7,750 weighed down by losses in banking, auto, FMCG and metal stocks.

UPCOMING RESULTS TOMORROW: CASTRILIND, EMAMI, EICHER, GODREJPROP, HEROMOTO, MCX, TALWALKARS, NDTV

HEADLINES OF THE DAY

Adani Ports slumps post Q4FY2016 earnings.

Alstom T&D tanks on weak Q4 earnings.

Tata Motors weakens on disappointing JLR April sales.

The crucial resistance for Nifty SPOT is now seen at 7830 and above this 7890. Support for the immediate term is now placed at 7666 and next support will be 7582.

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