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INDIAN BENCHMARKS marks biggest single day gain since Jan 15
INDIAN EQUITY BENCHMARKS rose about 2 percent, heading towards its biggest single-day gain in seven months as the rupee recovered from a 23-month low, while hopes that the central bank might cut rates in its September meeting also helped. The S&P BSE Sensex and CNX Nifty ended 1.88%-1.95% higher each.
Headlines for the day:
July WPI sees sharp contraction
Hindalco Industries Q1 net profit down 67% (YoY)
SAIL Q1 disappoints street; net loss at Rs321.64 crore
Jet Airways spurts on turnaround in Q1 nos
Reliance Capital Q1 consolidated net profit up 23% (YoY)
The crucial resistance for Nifty is now seen at 8555 and above this 8590. Support for the immediate term is now placed at 8502 and next support will be 8475.

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