INDIAN EQUITY MARKET WRAP UP- 7 Sep 2016
INDIAN BENCHMARKS: SENSEX DOWN 51 POINTS, NIFTY 50 AT 8918
The market snapped two-day winning streak as profit booking drove equity benchmarks lower amid consolidation on Wednesday. Investors digested the likely delay in Fed rate hike after weak US economic data since last Friday. Indices had rallied 2 percent in previous two consecutive trading sessions.The 30-share BSE Sensex was down 51.66 points at 28,926.36 after hovering in a range of 29,067-28,911. The 50-share NSE Nifty lost 25.05 points to 8917.95.
HEADLINES OF THE DAY
BHEL surges on better Q1FY2017 execution.
ICICI Prudential Life gets Sebi nod for IPO.
SBI plans to raise $1 billion from sale of bonds.
The crucial resistance for Nifty spot is now seen at 8997 and above this 9115. Support for the immediate term is now placed at 8845 and next support will be 8730.
UPCOMING RESULTS: GUJ FLUOROCHEM , JINDALSTEEL , HIND COMPOSITE, SAIL, TV TODAY NETWORK, VENKEYS , ZUARI AGRO CHEM , ZUARI GLOBAL.