SENSEX TANKS 248 POINTS, NIFTY 50 BELOW 8900

INDIAN BENCHMARKS: SENSEX TANKS 248 POINTS, NIFTY 50 BELOW 8900 

The market has closed lower on profit booking. The Sensex was down 248.03 points or 0.8 percent at 28797.25, and the Nifty slipped 85.80 points or 0.9 percent at 8866.70.

About 1138 shares advanced, 1612 shares declined, and 199 shares were unchanged.

ONGC, Wipro, TCS, GAIL and Reliance were top gainers while Axis Bank, Bajaj Auto, ITC, Hero MotoCorp and HDFC were losers in the Sensex.

HEADLINES OF THE DAY

• ICICI Prudential IPO to hit markets on Sep 19.
• Maruti Suzuki board to consider stock split proposal.
• IDBI Bank surges as ADB plans to acquire stake. 

The crucial resistance for Nifty spot is now seen at 8915 and above this 8970. Support for the immediate term is now placed at 8824 and next support will be 8759.

UPCOMING RESULTS: HDIL, RELIANCE DEFENCE, BALKRISHNA IND, SIYARAM SILK,BHUSHAN STEEL,

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