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Monday, April 4, 2016

Equity Tips

The domestic equity market began the new week on a strong note, notching up over 100 points gain, powered mainly by Infosys, M&M, Bharti Airtel and Tata Motors, which rose between 4 per cent and 2 per cent.BSE benchmark Sensex had slipped into the red, down 49 points, in intraday trade after opening 100 points higher, but rallied in afternoon trade in line with the European markets, which opened weak but bounced back soon after.

Bajaj Auto was a clear winner on the Sensex, after the company reported 305,800 sales for March against 250,604 in the year-ago month. The stock added 1.35 per cent. M&M (up 4.29 per cent), Bharti Airtel (up 3.76 per cent), Infosys (up 3.12 per cent) and Tata Motors (up 2.24 per cent) were other big gainers on the Sensex.

The S&P BSE Sensex closed at 25,399.65, up 130.01 points or 0.51 per cent while the NSE's Nifty50 ended at 7,758.80, advancing 45.75 points or 0.59 per cent.

HEADLINES OF THE DAY
Geometric spurts after HCL Tech acquires IT services business
Hexaware drops as Baring Asia backs off from plans to sell stake
Bajaj Auto March 2016 sales grow 22% YoY

The crucial resistance for Nifty SPOT is now seen at 7791 and above this 7832. Support for the immediate term is now placed at 7713 and next support will be 7643.

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