INDIAN EQUITY MARKET WRAP UP- 20 FEB 2017

INDIAN BENCHMARKS: SENSEX RISES 193 POINTS, NIFTY ENDS ABOVE 8850

Equity benchmarks maintained uptrend on the first day of week, with the Sensex rising 192.83 points to 28661.58. The Nifty gained 57.50 points at 8879.20. The broader markets climbed over a percent on positive breadth. About 1719 shares advanced against 1151 declining shares on the BSE.

TCS and Tata Steel were biggest gainers among Sensex stocks, up 4 percent each followed by GAIL, HDFC Bank, BPCL and Idea Cellular. However, Axis Bank, ITC, HDFC, Dr Reddy’s Labs, ICICI Bank, Yes Bank and Tech Mahindra were losers.

HEADLINES OF THE DAY

• TCS board to consider buyback of shares.
• M&M plans to launch petrol variants of XUV5oo and Scorpio.
• Dilip Buildcon get LOA for Rs911 cr project from NHAI.

The crucial resistance for Nifty spot is now seen at 8896 and above this 8940 Support for the immediate term is now placed at 8730 and next support will be 8685.

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