CapitalStars Updates: INDIAN EQUITY BENCHMARKS MARKET WRAPUP

INDIAN EQUITY BENCHMARKS  rose on Wednesday, marking their highest close in nearly two weeks, led by gains in software exporters such as Infosys Ltd, as investors seeking bargains bought into beaten down stocks. The S&P BSE Sensex and CNX Nifty ended 0.54%-0.60% higher each.

Headlines for the day: 

• Nikkei Services PMI rises to 50.8 in July
• Tata Chemicals consolidated Q1 net profit down 13% (YoY)
• Canara Bank Q1 net profit down 41% (YoY); stock marginally in red
• Shree Cement Q4 cement realization dents earnings

The crucial resistance for Nifty is now seen at 8630 and above this 8670. Support for the immediate term is now placed at 8525 and next support will be 8475.

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