INDIAN EQUITY MARKET WRAP UP - 12 MAY 2016

INDIAN BENCHMARKS: SENSEX ENDS 193 POINTS HIGHER, NIFTY 50 RECLAIMS 7900

The domestic equity market seemed to have shrugged off the scare over Mauritius tax treaty recast and turned upbeat all through Thursday, giving the Sensex a 193-point lift.

That, even when investors remained cautious ahead of key economic data, scheduled for release later in the day. Nonetheless, considering how the market was spooked on Wednesday, the equity benchmarks definitely put up a brave show.

The S&P BSE Sensex opened 100 points higher in morning trade and gained steadily all through the day. At around 1 pm, the momentum was lost some bit but that was short-lived and the market quickly regained the tempo.

The 30-share Sensex closed at 25,790.22, up 193.20 points or 0.75 per cent while the broader Nifty50 ended at 7,900.40, with a gain of 51.55 points or 0.66 per cent.

UP COMING RESULTS TOMORROW: BANKBARODA,UNION BANK,CADILA,IGL,UNITED BREWERIES,ADVANTA,ALBK,LAOPALA,UBL,UCOBANK,

HEADLINES OF THE DAY

Arvind posts a good show for Q4FY16.

Dr Reddys Q4FY2016 result: Mixed bag performance.

Rajesh Exports surges ahead of board meeting.

  

The crucial resistance for Nifty SPOT is now seen at 7925 and above this 7992. Support for the immediate term is now placed at 7777 and next support will be 7697.

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