INDIAN BENCHMARKS: SENSEX CRASHES 322 POINTS, NIFTY 50 SLIP TOWARDS 7000

INDIAN BENCHMARKS: SENSEX CRASHES 322 POINTS, NIFTY 50 SLIP TOWARDS 7000

Domestic equity benchmarks took a deep dive on Wednesday, as a fresh slump in crude prices spooked financial markets the world over.

Public sector capital goods major BHEL -4.97 % tanked over 5 per cent along with several other blue chips such as NTPC -4.20 % (down 4.12 per cent), Tata Motors -3.63 % (down 3.63 per cent), HDFC (down 2.85 per cent) and ICICI Bank (down 2.65 per cent), which resulted in a 1.32 per cent, or 310-point, slump in the 30-stock Sensex to 23,100.

The broader Nifty 50 index of the NSE slipped nearly 90.85 points or 1.28 per cent to slip below its crucial support level of 7,050 and ended the day at 7,018.70.

HEADLINES OF THE DAY

Bharti Airtel: Mittals and SingTel to buy 6% more in Airtel.

Ashok Leyland falls as Nissan terminates JV.

Glenmark receives approval for Norgestimate, Ethinyl Estradiol Tablets.

The crucial resistance for Nifty SPOT is now seen at 7109 and above this 7241. Support for the immediate term is now placed at 6960 and next support will be 6869.

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