INDIAN EQUITY MARKET WRAP - 07 JULY 2016

INDIAN BENCHMARKS: SENSEX NIFTY ENDED FLAT WITH SENSEX AT 27201, NIFTY 50 CLOSES AT 8337.90

After a consolidation, equity benchmarks closed marginally higher. The Sensex was up 34.62 points at 27201.49 and the Nifty gained 7 points at 8342.95.

The market breadth remained positive as about 1556 shares advanced against 1203 declining shares on BSE.

Lupin surged 8 percent in late trade after the company received establishment inspection report from the USFDA for Goa facility.

HDFC, HDFC Bank, ITC, HUL, Dr Reddy's Labs and Cipla gained 1-3 percent while TCS, Infosys, Tata Steel, L&T, Adani Ports, ONGC and SBI fell 1-5 percent.

HEADLINES OF THE DAY

PFC transfers Warora-Kurnool Transmission to Essel Infra projects.

Petronet LNG to set up LNG import terminal in Bangladesh.

NBCC rises on order winning.

The crucial resistance for Nifty spot is now seen at 8443 and above this 8561. Support for the immediate term is now placed at 8294 and next support will be 8230.

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