INDIAN EQUITY MARKET WRAP UP - 20 MAY 2016

INDIAN BENCHMARKS: SENSEX SHEDS 97 POINTS, NIFTY 50 AT 7749, LUPIN DOWN 9%

Trading on Dalal Street was lackluster on Friday, as the domestic equity market swung between gains and losses after the Sebi enforced a new set of norms to keep a check on participatory notes.

The S&P BSE Sensex opened higher but pared the gains soon after and turned range bound. However, at about 2 pm, the market slipped into red and the Sensex lost as much as 251.16 points before closing the day at 25,301.90, down 97.82 points or 0.39 per cent. The broader Nifty50 settled at 7,749.70, down 0.43 per cent or 33.70 points.

UPCOMING RESULTS TOMORROW: FINOLEXIND,MINDAIND,RUSHIL,ABAN,BPCL,CHENNAIPETRO,ENGINERSIN,DISHTV,VRLLOG,TORRENTPHARM,TATAPOWER

HEADLINES OF THE DAY

Lupin cracks as FDA overhang continues.

Pidilite Inds Q4 consolidated net profit up 89% (YoY).

IRB Infra Q4 consolidated net profit at Rs151 cr.

The crucial resistance for Nifty SPOT is now seen at 7830 and above this 7882. Support for the immediate term is now placed at 7697 and next support will be 7643.

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