INDIAN EQUITY MARKET WRAP UP-14 Aug 2015

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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