A sell-off in global markets had its impact on the local market, as the Sensex closed over 700 points lower, while the Nifty ended just around 10,250-mark.
Weakness was visible among banking names, particularly in PSU banks along with metals, automobiles, pharmaceuticals, and IT names. A recovery in rupee from record lows failed to make any impact.
At the close of market hours, the Sensex closed down 759.74 points or 2.19% at 34001.15, while the Nifty ended lower by 225.40 points or 2.15% at 10234.70. The market breadth is negative as 824 shares advanced, against a decline of 1,736 shares, while 866 shares were unchanged.
Yes Bank, ONGC, HPCL and IOC were the top gainers, while State Bank of India, Tata Steel, Indiabulls Housing Finance and Bajaj Finserv lost the most.
HEADLINES OF THE DAY
PTC India signs deals for power supply to Bangladesh
ONGC to buy 27 rigs for up to Rs3,500cr
Yes Bank gains 3% ahead of CEO-search committee meet
The crucial resistance for Nifty spot is now seen at 10400 and above this 10530 Support for the immediate term is now placed at 10150 next support will be 10000.
RESULTS TOMORROW: HUL, KTKBANK, TATASPONGE
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