Indian Market Overview-

· The market bounced back in last hour of trade with the Nifty reclaiming 7500 intraday Wednesday ahead of outcome of Federal Reserve’s two-day meeting due tonight. Nifty future up 41 points at 7527.

· The 30-share BSE Sensex rose by 131 points at 24682. The market breadth was weak as about 1143 shares advanced against 1432 declining shares on the BSE.

· Alok Industries shares gained nearly 9 percent intraday Wednesday as a media report suggested that PE funds and few textile majors are in race to buy the company.

· NCC Ltd. is likely to garner about Rs 400 crore from the planned stake sale in thermal power project Sembcorp Gayatri Power to Sembcorp Utilities Pte Ltd. and monetising certain road assets like the Western UP Tollway and Bangalore Elevated Tollway Ltd.

Global Market Overview–

· Asian shares were mixed on Wednesday with investors focused on the upcoming Federal Reserve review of interest rates for market direction.

· The yuan fell against the dollar Wednesday after the People’s Bank of China set the fixing weaker for a third consecutive day at 6.5172 compared with Tuesday’s 6.5079.

· In a bid to halt the continued economic slowdown, China’s parliament today approved a new five-year plan, laying out the economic and social development blueprint that sets a target of an average annual economic growth of above 6.5 percent.

· The The Dow Jones industrial average ended up 22.4 points at 17251, the S&P 500 lost 3.71 points to 2015 and the Nasdaq Composite dropped 21.61 points to 4728.

Today’s Stock Recommendation

Technical Overview:

Stock recommendation for 17/3/2016 is Inoxwind ltd.In today’s trading session it was up by 5.29%. Its long term trend is up. It has made a long green candle indicating further buying in daily chart. Its short term support level is 259. All the indicators are suggesting that one can go for long position in this stock above 266 levels. The stock may test level of 275-285 in coming days.



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