INDIAN EQUITY MARKET WRAP- UP - 30 MAY 2016

INDIAN BENCHMARKS: MARKET FAILS TO SUSTAIN RALLY, SENSEX ENDS UPS 72 POINT, NIFTY 50 AT 8178.50

The stage was set for a grand opening for the market on Monday, but anti-climax was what everyone got.

NSE's Nifty50 was expected to breach the 8,200 level, and breach it did within 15 minutes of the opening bell, for the first time since October, 2015.

The S&P BSE Sensex too opened with a good 100-point gain but could not sustain the momentum. The market briefly slipped into the negative zone but managed to close the day with gains.

The index closed at 26,725.60, up 72 points or 0.27 per cent while the broader Nifty50 settled at 8,178.05, advancing 21.85 points or 0.27 per cent.

HEADLINES OF THE DAY

Sun Pharma gets US subpoena over generic drugs pricing.

Hindalco Inds Q4 net profit at Rs356 cr.

NTPC Q4: Net Profit at Rs2, 716 Cr.

  

The crucial resistance for Nifty spot is now seen at 8232 and above this 8328. Support for the immediate term is now placed at 8070 and next support will be 8000.

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