INDIAN EQUITY MARKET WRAP UP - 16 SEP 2016

INDIAN BENCHMARKS: SENSEX GAINS 186 POINTS, NIFTY 50 CLOSE ABOVE 8750 @8779.85

Equity benchmarks closed higher for third consecutive session but were off day's high due to some profit booking in afternoon trade.

The 30-share BSE Sensex was up 186.14 points at 28599.03 and the 50-share NSE Nifty gained 37.30 points at 8779.85 whereas the broader markets ended marginally lower on weak breadth.

About 1423 shares declined against 1310 advancing shares on the BSE.

ITC and Hero MotoCorp were top gainers in trade today while Reliance Industries hit 27-month high intraday, closing with a gain of 1 percent.

HEADLINES OF THE DAY

• PNB raises Rs2112 crore by issuing 16.43 crore equity shares.
• Wockhardt surges as USFDA clears Chikalthana plant.
• Indiabulls Housing to foreclose NCD issue today.

The crucial resistance for Nifty spot is now seen at 8850 and above this 8939. Support for the immediate term is now placed at 8750 and next support will be 8685.

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