Closing Bell: Nifty ends June series below 10,600, Sensex dips
179 pts; Midcap index falls 2%
Benchmark indices ended sharply lower on the
expiry day of June futures & options contracts, dragged by banking &
financials and Reliance Industries. Weakness in the rupee and lingering trade
tensions between the US and China also dented market sentiment.
The 30-share BSE Sensex shed 179.47 points to 35,037.64 and the
50-share NSE Nifty fell 82.30 points to 10,589.10 while the Nifty Midcap index
dropped nearly 2 percent on weak market breadth.
More than two shares declined for every share rising on the BSE.
Reliance Industries (down 2 percent), ICICI Bank (2.7 percent),
HDFC (1.41 percent), Bajaj Finance (2.6 percent), Tech Mahindra (7 percent),
Titan Company (3.83 percent) and HPCL (down 5.5 percent) were top contributores
to the Nifty's fall.
HDFC Bank (up 0.86 percent), Infosys (1.54 percent), Kotak
Mahindra Bank (1.13 percent), Hindalco Industries (1.45 percent) and Tata Steel
(up 1 percent) capped losses.
HEADLINES OF THE DAY
The Indian rupee recovered from its intraday all-time low of 69.09
against the dollar.
Manpasand Beverages in focus: The company has entered into a ten
year agreement with Parle Products Private Limited for joint distribution of
their products, pan-India.
Asia Index Private Limited, a joint venture between S&P Dow
Jones Indices and BSE Ltd, announced the launch of the S&P BSE Diversified
Financials Revenue Growth Index.
The crucial resistance for Nifty spot is now seen at 10700 and
above this 10840. Support for the immediate term is now placed at 10550 next
support will be 10410.
Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
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