INDIAN EQUITY MARKET WRAP UP-11 FEB 2015

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INDIAN BENCHMARKS end higher on reform hopes for budget

INDIAN EQUITY BENCHMARKS
   rose for a second consecutive session as blue-chips such as ICICI Bank Ltd climbed on hopes that Delhi election defeat may prompt faster reforms by the Modi government through the upcoming federal budget. The S&P BSE Se nsex and CNX Nifty ended 0.63%-0.72% higher each.

·   Escorts Q3 net profit down 22% (YoY)

·   PFC Q3 net profit at
Rs1542 cr (YoY)

·   Syndicate Bank Q3 net
profit falls 20% (YoY)

·   Godrej Inds Q3 Consolidated net profit at Rs91 cr (YoY)

The crucial resistance for Nifty is now seen at 8705 and above this 8745. Support for the immediate term is now placed at 8550 and next support will be 8495.

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