INDIAN BENCHMARKS: SENSEX ENDS 159 POINTS LOWER, NIFTY 50 BELOW 7900

INDIAN BENCHMARKS: SENSEX ENDS 159 POINTS LOWER, NIFTY 50 BELOW 7900

In a bad start to the expiry week, domestic equity indices ended deep in red on Monday, as weak cues from global markets hit stocks.

Just when you thought the market was gaining pace and might rise further, it lost momentum as investors turned cautious due to major actions in global markets.

All eyes were on the policy decisions of the US Fed, which is meeting over Tuesday and Wednesday and that of Bank of Japan, which is scheduled to come out with money policy statement on Thursday. Among local factors, the second half of the Budget session that started today, also influenced investor sentiment.

The S&P BSE Sensex ended the day 0.62 per cent, or 159.21 points, lower at 25,678.93. The broader Nifty50 of the NSE closed at 7,855.05, down 44.25 points or 0.56 per cent

UPCOMING RESULTS TOMORROW: AXIS BANK, MARUTI, IDFC BANK, BHARTI INFRA, BIOCON, RALIIES

HEADLINES OF THE DAY

Ultratech Cement Q4FY2016 earnings grow 2.5% YoY.

Bharti Airtel gains as board to consider buyback of shares.

Indiabulls Real Est Q4 consolidated net profit at Rs59 cr (YoY).

The crucial resistance for Nifty SPOT is now seen at 7980 and above this 8055. Support for the immediate term is now placed at 7850 and next support will be 7775.

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