INDIAN EQUITY MARKET WRAP UP-16 Aug 2015

INDIAN BENCHMARKS close at highest level in over 2 weeks

                                                                 

INDIAN EQUITY BENCHMARKS ended 1 percent higher on Wednesday, recording its highest close in over two weeks, propped by upbeat Asian markets even as the possibility of the U.S. Federal Reserve hiking interest rates for the first time in almost decade loomed. The S&P BSE Sensex and CNX Nifty ended 1.00%-0.89% higher each.

                                                 

Headlines for the day:

Exports and Imports plunge 20.7% YoY and 9.9% YoY

L&T gets order worth around Rs1700 cr

Yes Bank gains after rise in advance tax payment for Q2

                       

The crucial resistance for Nifty is now seen at 7950 and above this 7975. Support for the immediate term is now placed at 7875 and next support will be 7825.

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