INDIAN EQUITY MARKET WRAP UP - 27 MAY 2016

INDIAN BENCHMARKS: SENSEX, NIFTY 50 END WITH THE BEST WEEKLY GAIN IN THREE MONTHS

A neat 576-point rally on Wednesday, a 485-point bounce on Thursday and a 286.92-point surge on Friday. Nifty notched up 400-point gain in the past three sessions.

Must be a signal that the bulls are back!

The domestic equity market kicked off the June series of futures and options contracts with a bang. A rally in oil marketing companies and pharma stocks helped Dalal Street extend the winning streak to the third consecutive day.

The market remained positive throughout the day with the Nifty50 reclaiming its crucial levels at 8,100 and 8,150 in intra-day trade. The S&P BSE Sensex gained as much as 272.15 points before closing the day at 26,653.60, up 1.09 per cent or 286.92 points. The broader Nifty50 index settled the day at 8,156.65, up 1.08 per cent or 87 points.

UPCOMING RESULTS TOMORROW: COALINDIA, HDIL, HINDALCO, JUBLFOOD, EVERONN, BATAINDIA, ATUL AUTO, AURO PHARMA, BERGER PAINT, IPCA LAB, M&M, RCOM, SAIL, SUNPHARMA

HEADLINES OF THE DAY

Canara Bank Q4: Net Loss at Rs3,905 Cr

Torrent Pharma in talks to buy Glochem Industries for Rs300 crore

SBI Q4FY16: Mixed Bag performance, Asset quality worsens

The crucial resistance for Nifty spot is now seen at 8182 and above this 8262. Support for the immediate term is now placed at 8070 and next support will be 8000.

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