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Wednesday, June 1, 2016

Equity Tips

INDIAN BENCHMARKS: SENSEX RALLIES OVER 100 POINTS, NIFTY 50 RECLAIMS 8200 POST Q4 GPD DATA

The S&P BSE Sensex surged over 100 points on Wednesday after flat start led by gains in Axis Bank, HDFC, Maruti Suzuki, and Tata Steel. The Nifty50 reclaimed its crucial psychological support level of 8,200 supported by gains in power, oil & gas, metal, auto, and telecom stocks.
Later on Sensex ended up 45.97 points or 0.2 percent at 26713.93, and the Nifty was up 19.85 points or 0.2 percent at 8179.95. About 1324 shares have advanced, 1299 shares declined, and 158 shares are unchanged.
Adani Ports, Asian Paints, Bharti Airtel, ITC and Coal India were top gainers while SBI, Tata Motors, ICICI Ban, Cipla and BHEL are major loser in the Sensex.

HEADLINES OF THE DAY

Eicher Motors May 2016: 2 wheelers Sales Volumes grow by 37.5%
RBI allows Axis Bank raise foreign shareholding to up to 62%
Zydus gets USFDA nod for Amantadine Capsules

The crucial resistance for Nifty spot is now seen at 8232 and above this 8328. Support for the immediate term is now placed at 8070 and next support will be 8000.

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