INDIAN BENCHMARKS: SENSEX TANKS 266 POINTS TO HIT 20 MONTHS LOW, NIFTY AT 7351

INDIAN BENCHMARKS: SENSEX TANKS 266 POINTS TO HIT 20 MONTHS LOW, NIFTY AT 7351

The domestic equity benchmark of the Bombay Stock Exchange, the Sensex, lost 266.67 points or 1 per cent to close at 24,188.37 on Monday. The NSE's Nifty settled at 7,351, down 86.80 points, or 1.17 per cent.

It was a volatile day for the domestic equity indices as they lost about 100 points immediately on opening but recovered soon after. Thereafter, the Sensex continued its steep rise and fall.

Reliance and Bajaj Auto pulled the indices down as both the stocks lost about 4 per cent each. Selling was triggered in oil major Reliance Industries, private lenders HDFC, HDFC Bank and ICICI Bank as well as L&T.

HEADLINES OF THE DAY

BHEL surges on commissioning 2nd 660 MW unit in UP.

Kotak Mahindra Bank profit in-line; Asset Quality Stable.

Karnataka Bank Q3 net profit drops 9% (YoY).

The crucial resistance for Nifty SPOT is now seen at 7438 and above this 7575.Support for the immediate term is now placed at 7264 and next support will be 7229.

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