INDIAN EQUITY MARKET WRAP UP-2 Sep 2015

INDIAN BENCHMARKS record lowest close in over a year

                                                                 

INDIAN EQUITY BENCHMARKS ground out marginal gains on Wednesday after the government decided to exempt foreign investors from the controversial minimum alternate tax (MAT) but the gains were capped by weak Asian markets that fell on worries over slowing global growth. The S&P BSE Sensex and CNX Nifty ended 0.95%-0.88% lower each.

                                                 

Headlines for the day:

Bajaj Auto volumes up 1.5% (YoY); in-line with estimates

Auto sales for August 2015 – Ashok Leyland leads

Oil companies slash jet fuel price by 11.7%

                         

The crucial resistance for Nifty is now seen at 7825 and above this 7875. Support for the immediate term is now placed at 7705 and next support will be 7675.

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