INDIAN EQUITY MARKET WRAP UP-01 JULY 2015

INDIAN BENCHMARKS marks highest close in 2-1/2 months; banks rally

                                                                    

INDIAN EQUITY BENCHMARKS  rose nearly 1 percent on Wednesday, to close above the psychologically important 28,000 level, its highest close in nearly 2-1/2 months, as state-run banks rose after the government's plan for a comprehensive package raised hopes of faster recapitalization. The S&P BSE Sensex and CNX Nifty ended 0.86%-1.01% higher each.

                                                   

Headlines for the day:      

                                                                            

Petrol price cut by 31 p/L, diesel by 71 p/L

Maruti June 2015 volumes up 1.8% (YoY); in-line with estimates

Eicher Motors June 2015 CV volumes in-line with estimates

The crucial resistance for Nifty is now seen at 8530 and above this 8570. Support for the immediate term is now placed at 8385 and next support will be 8285.

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