INDIAN EQUITY MARKET WRAP UP-7 Oct 2015

INDIAN BENCHMARKS rise for 6th session; remain near 1-1/2 month highs

                                                                 

INDIAN EQUITY BENCHMARKS rose for a sixth consecutive session as oil explorers such as ONGC rose, tracking a rebound in crude prices, while auto makers such as Mahindra & Mahindra gained on hopes the upcoming festive season would boost sales. The S&P BSE Sensex and CNX Nifty ended 0.38% and 0.30% higher each.

                                                 

Headlines for the day:

IMF cuts India, global 2015 GDP forecasts

Bajaj Corp Q2FY2016 revenue growth moderates to 10%

Glenmark Pharma barred from selling anti-diabetes drug

Aditya Birla Nuvo to sell 49% in renewables unit to Abraaj

                       

The crucial resistance for Nifty is now seen at 8205 and above this 8255. Support for the immediate term is now placed at 8125 and next support will be 8095.

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