SENSEX NIFTY ENDS IN RED, SENSEX DOWN 105 POINTS, NIFTY 50 BELOW 8850

INDIAN BENCHMARKS: SENSEX NIFTY ENDS IN RED, SENSEX DOWN 105 POINTS, NIFTY 50 BELOW 8850

Indian equities extended sell-off in late trade on profit booking after a consolidation Friday, dragged by Axis Bank, Infosys and ICICI Bank. Benchmark indices had rallied 1 percent in previous session after Federal Reserve kept rates unchanged.

The 30-share BSE Sensex was down 104.91 points at 28668.22 and the 50-share NSE Nifty fell 35.90 points to 8831.55 while the broader markets outperformed benchmarks with the BSE Midcap rising 0.3 percent. Axis Bank was the biggest loser on Sensex, down nearly 6 percent.

The market breadth was in favour of declines as about 1494 shares slipped against 1168 advancing shares on the Bombay Stock Exchange.

HEADLINES OF THE DAY

• Infra stocks surge as SEBI approves InvIT.
• Bharat Financial surges on QIP issue of Rs750 crore
• Shriram Transport raises fund after allotting NCDs.

The crucial resistance for Nifty spot is now seen at 8895 and above this 8939. Support for the immediate term is now placed at 8750 and next support will be 8685.

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