INDIAN EQUITY MARKET WRAP UP- 1 Sep 2016

INDIAN BENCHMARKS: SENSEX ENDS DOWN 28 POINTS NIFTY 50 BELOW 11.55 POINTS @ 8774.65

After a very choppy day, the market ended in red. The Sensex slipped 28.69 points or 0.1 percent at 28423.48, and the Nifty was down 11.55 points or 0.1 percent at 8774.65.

About 1084 shares have advanced, 1645 shares declined, and 176 shares are unchanged.

Bharti was down 6 percent, Reliance fell 3 percent while BHEL, Wipro and Adani were losers in the Sensex. GAIL, Tata Motors, ICICI Bank, Lupin and Coal were gainers in the Sensex.

HEADLINES OF THE DAY

Apollo Hospitals Q1 net profit up 18% (YoY).

Hero MotoCorp to launch 15 models in FY17.

M&M August 2016 sales grow 15% YoY.

The crucial resistance for Nifty spot is now seen at 8845 and above this 8940. Support for the immediate term is now placed at 8680 and next support will be 8635.

UPCOMING RESULTS: TECHNOCRAFT IND, MANGLORE CHEM, TATAJEWEL, INOX WIND

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