INDIAN EQUITY MARKET WRAP UP - 15 JULY 2016

INDIAN BENCHMARKS: SENSEX ENDS 105 POINTS DOWN AFTER 300 POINTS SWING, NIFTY 50 SLIPS BELOW 8550

The S&P BSE Sensex continued to trade in the negative zone on Friday as IT major Infosys -8.81 % dragged the index.

Infosys was at the bottom of the 30-share Sensex pack losing about 8 per cent. NTPC, TCS -3.11 %, Wipro and ICICI Bank were the other laggards.

The Nifty50 was below its crucial support level of 8,550, with IT stocks being the worst-hit.

Infosys' first quarter earnings for current financial year disappointed the Street as the company reported a 4.3 per cent drop in consolidated profit to Rest 3,440 crore on a sequential basis.

After a lot of struggle, the market has ended lower. Sensex is down 105.61 points or 0.4 percent at 27836.50, and the Nifty fell 23.60 points or 0.3 percent at 8541.40. About 1000 shares have advanced, 1681 shares declined, and 197 shares are unchanged.

Bharti Airtel, Tata Steel, HDFC twins and Adani Ports were top gainers while Infosys, TCS, Wipro, NTPC and Coal India were top losers in the Sensex.

HEADLINES OF THE DAY

LIC Operating performance in line with expectation.

Infosys Q1 $ revenue sharply below street estimates; Cons net profit up 13% (YoY).

Titan to pick stake in Carat Lane.

UPCOMING RESULTS : EXIDEIND,GRUH,HINDUNILVR,MINDTREE,VERTEX,RELIANCE

The crucial resistance for Nifty spot is now seen at 8621 and above this 8655. Support for the immediate term is now placed at 8490 and next support will be 8432.

Get real time advice for  Stock Trading tips , Best Accurate Stock Tips , Stock Market Live , Equity Tips  and all Maket Updates From Capitalstars  .