INDIAN EQUITY MARKET WRAP UP - 03 AUG 2016

                                                                                              
INDIAN BENCHMARKS: SENSEX TANKS 284 POINTS,NIFTY 50 BELOW  8550

After a lot of struggle the market ended in deep red. The Sensex closed down 284.20 points or 1 percent at 27697.51 and the Nifty slipped down 78.05 points or 0.9 percent at 8544.85. About 913 shares have advanced, 1812 shares declined, and 142 shares are unchanged.

Asian Paints, Cipla, Sun Pharma, Coal India and Bharti Airtel were top gainers while ITC, Tata Motors, BHEL, Maruti and Reliance were losers in the Sensex.

HEADLINES OF THE DAY

HCL Tech surges on strong Q1FY17 result, ahead of estimates.

Berger Paints Q1 consolidated net profit up 54% (YoY).

Titan Company Q1 net profit drops 16%.

The crucial resistance for Nifty spot is now seen at 8650 and above this 8736. Support for the immediate term is now placed at 8515 and next support will be 8475.

UPCOMING RESULTS: ARVIND, FORTIS, GATI, SIEMENS, TUBEINVESTMENT, TATAPOWER, TAJGVK, THOMASCOOK.

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