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Wednesday, May 18, 2016

Equity Tips
INDIAN BENCHMARKS: SENSEX ENDS 69 POINTS LOWER, NIFTY ABOVE 7850

The domestic equity market was left bruised in choppy trade on Wednesday following heightened fears of a rate hike by the US Federal Reserve post better-than-expected retail inflation in the US took its toll on investors' sentiment.
However, market's losses were capped as traders began buying on dips.

After a weak start which saw the index plummet close to 270 points, the 30-share barometer S&P BSE Sensex closed at 25,704.61, down 0.27 per cent or 69 points. The NSE barometer Nifty50 settled at 7,870.15, with a loss of 20.60 points or 0.26 per cent.

UPCOMING RESULTS TOMORROW: CESC, IRB, LUPIN, MANPASAND BEWEREGES, PIDILITEIND, SPICEJET, SOBHA, GUJARAT PIPAVAV PORT

HEADLINES OF THE DAY
Tata Comm surges on plans to divest 75% stake in ST Telemedia
SBI plans to merge five subsidiary banks with itself
JSW Steel Q4 beats estimates

The crucial resistance for Nifty SPOT is now seen at 7925 and above this 7992. Support for the immediate term is now placed at 7842 and next support will be 7805.

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