INDIAN EQUITY MARKET WRAP UP - 25 JULY 2016

                   
INDIAN BENCHMARKS: SENSEX RECLAIMS 28K, NIFTY 50 CLOSED ABOVE 8630

Foreign fund flows kept the rally going in Indian equities on Monday even as experts fretted about expensive valuations and tepid corporate earnings growth. The 30-share BSE Sensex rallied 292.10 points or 1.05 percent to close at 28095.34. The 50-share Nifty hit a 52-week high of 8641.15 intra-day before ending at 8635.65, up 94.45 points or 1.11 percent.

Banking, realty and oil & gas shares were among the star performers of the day, with the respective sectoral indices on the BSE gaining more than 1 percent each.

Both the Nifty and the Bank Nifty indices ended at their highest closing levels in a year.

HEADLINES OF THE DAY

Canara Bank Q1 net profit down 52% (YoY)

CESC likely to sign another 150 MW PPA for Chandrapur plant

Indiabulls Hsg Fin Q1 Cons net profit comes at Rs630 Cr

The crucial resistance for Nifty spot is now seen at 8654 and above this 8788. Support for the immediate term is now placed at 8605 and next support will be 8525.

UPCOMING RESULTS: UNITESSPIRIT, ZEEL, V GUARD, ACC, AJANTAPHARMA, AMBUJACEM, BAJAJFINSV, BAJFINANCE, COROMANDEL, DR REDDY, IDFC, INFRATEL, MARUTI, TVSMOTOR, TATAELXSI

                                                      

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