INDIAN EQUITY MARKET WRAP UP-6 May 2015

INDIAN BENCHMARKS close at their lowest level this year

INDIAN EQUITY BENCHMARKS fell nearly 3 percent on Wednesday to their lowest close so far this year, hit by strong selling on algorithmic trading platforms, while continued offloading by foreign investors amid retrospective tax worries also weighed on sentiment. The S&P BSE Sensex and CNX Nifty ended 2.63-2.74% lower each.                                                                                                        

Headlines for the day:

HSBC Service PMI drops to 52.4 for April 2015

New F&O Entrants available for trading from 29th May

Opto Circuits' arm gets USFDA clearance

The crucial resistance for Nifty is now seen at 8225 and above this 8275. Support for the immediate term is now placed at 8050 and next support will be 7995.

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