INDIAN EQUITY MARKET WRAPUP-18 DEC 2014

INDIAN BENCHMARKS rose 1.6 pct on global rally, tax reform-led short-covering.

• INDIAN EQUITY BENCHMARKS   rose over 1.5% on Thursday to snap their 5-day selling streak as blue chips such as ICICI Bank surged after a global rally and the cabinet's nod to a nationwide sales tax bill led to unwinding of short positions. The S&P BSE Sensex and CNX Nifty ended 1.56%-1.61% higher each.

1. Jain Irrigation’s food processing grows by 15%
2. IT sector: Oracle’s overall earnings beat expectations
3. India's sugar production rises by 47% till December 15

• The crucial resistance for Nifty is now seen at 8200 and above this 8275. Support for the immediate term is now placed at 8095 and next support will be 8020.