INDIAN EQUITY MARKET WRAP UP - 01 JULY 2016

INDIAN BENCHMARKS: SENSEX ENDS UP 145 POINTS, NIFTY 50 AT 8328.35

The S&P BSE Sensex rallied over 200 points in morning trade on Friday led by gains in ITC, Tata Motors, Infosys, Axis Bank, and Dr Reddy's Laboratories.

The Nifty50 reclaimed its crucial resistance level of 8,350 supported by gains in power, oil & gas, realty, metal, consumer durable, and capital goods stocks.

The Sensex closes up 145.19 points or 0.5 percent at 27144.91, and the Nifty was up 40.60 points or 0.5 percent at 8328.35. About 1559 shares have advanced, 1157 shares declined, and 139 shares are unchanged.

ONGC, BHEL, L&T, GAIL and Dr Reddy's were top gainers while TCS, Coal India, Adani Ports and HDFC were losers. 

HEADLINES OF THE DAY

M&M June 2016 overall Sales nos up 13% (YoY).

Strides rises on successful USFDA inspection of Bangalore.

KPIT tanks on forecast for flat revenue growth in Q2.

The crucial resistance for Nifty spot is now seen at 8360 and above this 8467. Support for the immediate term is now placed at 8232 and next support will be 8174.

                       

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