INDIAN BENCHMARKS: SENSEX ENDS 51 POINTS LOWER, NIFTY 50 BELOW
7950
Bank
stocks tanked on Wednesday on a new Reserve Bank of India (RBI) initiative to
link their base rates to marginal cost of fund, while auto stocks bled on
less-than-projected November sales data, making the benchmark equity indices to
snap a four-day winning streak and close lower.
Investors
also turned cautious ahead of the US Federal Reserve's rate-setting meeting in
mid-December. Lack of any visible progress on the GST Bill in the ongoing
winter session of Parliament also hit sentiments on the Street.
The
S&P BSE Sensex ended 51 points, or 0.2 per cent, lower at 26,117 while the
Nifty50 closed at 7,931, down 23 points, or 0.3 per cent. SBI and Infosys were
the top losers on the BSE benchmark.
HEADLINES OF THE DAY
Tata
Steel up as overseas arm inks deal for refinancing debt
TVS
Motor drops after Nov 2015 volumes come below estimates
Ceat
partners Pirelli to distribute premium motorcycle tyres; stk up
The
crucial resistance for Nifty SPOT is now seen at 7980 and above this 8035.
Support for the immediate term is now placed at 7877 and next support will be
7812 intact.
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