INDIAN BENCHMARKS: SENSEX LOSES EARLY MOMENTUM BUY ENDS ABOVE 28K
An
early surge on Dalal Street lost momentum midway through to end on a muted note
on Wednesday, as if to suggest the domestic equity market was confused.
Reports
of a huge monetary stimulus package from the Bank of Japan triggered a big
rally in the market, lifting the benchmark Sensex by 234 points midway through.
But the 30-stock pack lost momentum after a 300-point swing after tighter
regulatory curbs made the Chinese market crack.
The
S&P BSE Sensex still ended above the 28,000 mark. The NSE's Nifty50 had
reclaimed the 8,650 level but slipped to end the day only marginally above the
8,600 mark a day ahead of the expiry of July series futures & options
contracts.
HEADLINES OF THE DAY
HDFC
Q1 consolidated net profit up 27% (YoY)
Dr.
Reddy’s tanks as Q1FY2017 results disappoint
Castrol
India Q1 net profit up 12% (YoY)
The
crucial resistance for Nifty spot is now seen at 8654 and above this 8788.
Support for the immediate term is now placed at 8540 and next support will be
8485.
UPCOMING
RESULTS:
CEAT,EICHER, DISHTV, HEXAWARE, ESCORT, PNB, SINTEX, WELCORP
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