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Wednesday, April 20, 2016

Equity Tips
INDIAN BENCHMARKS: SENSEX END MARGINALLY HIGHER,NIFTY FLAT

The domestic equity market on Wednesday failed to play catchup with the global equity rally seen over the past two days and turned sluggish, as investors booked profit following poor cues from China even as weak crude prices turned the sentiment negative.Weakness in Asian and European markets after two days of gains also weighed on investor sentiments.

Opening after a day's holiday break, the S&P BSE Sensex opened with a good 100-point rally while the NSE's Nifty50 started above the key resistance level of 7,900. But the benchmark indices embarked on a downward slide soon after and kept swinging between gains and losses all through the trading session.

The 30-share Sensex closed the day at 25,844.18, up 0.11 per cent or 27.82 points, while its 50-share counterpart gained 0 points or 0.05 per cent to end at 7,914.75.

UPCOMING RESULTS TOMORROW: HIND ZINC, INDUSIND BANK, CYIENT

HEADLINES OF THE DAY
CRISIL Q1 consolidated net profit up 40% (YoY)
TCS drops as Q4FY2016 margins miss the mark
Dr Reddys launches ZEMBRACE SymTouch

The crucial resistance for Nifty SPOT is now seen at 7980 and above this 8116. Support for the immediate term is now placed at 7864 and next support will be 7749.

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