INDIAN EQUITY MARKET WRAP UP- 28 Nov 2016

INDIAN BENCHMARKS: SENSEX NIFTY ENDS FLAT

Equity benchmarks closed flat with a positive bias after consolidation on Monday but the broader markets outperformed on further value buying. Banks underperformed after CRR hike news announcement by RBI while ITC helped the market close in the green.

The 30-share BSE Sensex was up 33.83 points at 26350.17 and the 50-share NSE Nifty gained 12.60 points at 8126.90 while the BSE Midcap index jumped 1 percent and Small cap rose 0.66 percent on positive breadth. About 1658 shares advanced against 936 declining shares on the exchange.

HEADLINES OF THE DAY

Bharti Airtel buys Econet stake in Nigerian arm.

Strides to acquire PediaCare from Moberg Pharma

Ashok Leyland completes acquisition of Nissan’s stake.

The crucial resistance for Nifty spot is now seen at 8151 and above this 8210 Support for the immediate term is now placed at 8055 and next support will be 7930.

UPCOMING RESULTS: TATAPOWER

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