INDIAN EQUITY MARKET WRAP UP - 26 MAY 2016

INDIAN BENCHMARKS: AMAZING RALLY! SENSEX SURGERS 485 POINTS NIFTY AT 8069

After Wednesday's big rally on Dalal Street, Thursday belonged to the bulls too!

The day marked the expiry for May series futures & options contracts. More importantly, it was the day when Prime Minister Narendra Modi's government completed two years in office.

Bullish investors left no stone unturned and made the most out of the day, leading the NSE's Nifty50 to reclaim its crucial psychological level of 8,000 for the first time since November 5, 2015. The S&P BSE Sensex surged as much as 485.51 points to blow past the key psychological level at 26,000 and end at 26,366.68. The Nifty settled at 8,069.65, up 134.75 points or 1.70 per cent.

UPCOMING RESULTS TOMORROW: ATLANTA,BEL,BEML,BHEL,CANBK,DLF,IOC,INDOCO,LAMBODHARA,LALPATHLAB,REC,SBIN,TATACOMM,VENKYS

HEADLINES OF THE DAY

YES Bank gets Cabinet nod to increase FII limit.

L&T rallies on stellar Q4FY16 result, ahead of estimate.

Dr Reddy’s buys 6 OTC brands from Ducere Pharma.

The crucial resistance for Nifty spot is now seen at 8125 and above this 8182. Support for the immediate term is now placed at 8000 and next support will be 7885.

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