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Friday, July 29, 2016



INDIAN BENCHMARKS: SENSEX ENDS 157 POINTS LOWER, NIFTY 50 BELOW 8650 

Cautious investors dumped equities ahead of key June quarter earnings on Friday after the Bank of Japan (BoJ) disappointed the market with less-than-expected monetary easing. 

The S&P BSE Sensex and NSE's Nifty50 opened flat as the August series of futures and options contracts kicked off. Trading turned choppy with the Sensex heading towards the negative zone even as the broader Nifty50 shot into the green at least once. 
The 30-share Sensex closed at 28,051.86, down 156.76 points or 0.56 per cent, while the 50-share Nifty50 settled at 8,638.50, down 27.80 points or 0.32 per cent. 

HEADLINES OF THE DAY

Pidilite Q1: Net Profit +16.1% at Rs272 Cr Vs Rs234.3 Cr (YoY)
Karnataka Bank Q1 net profit up 11% (YoY)
Vedanta Q1: Cons Net Profit -30.4% at Rs615 Cr Vs Rs884 Cr (YoY)
Kesoram plans Rs600 crore capex for tyre, cement divisions

The crucial resistance for Nifty spot is now seen at 8788 and above this 8843. Support for the immediate term is now placed at 8540 and next support will be 8485.


UPCOMING RESULTS: TATACOMM, TECHM, INDIGO, MANGALAM, VRLLOG, DELTACORP.

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