Closing Bell: Sensex ends almost 150 pts lower, Nifty below
11,000; midcaps crack
Intensified selling in the last hour ensured that
the market ended the day on a lower note, with the Nifty giving up 11,000-mark.
The Sensex managed to close almost 150 points
lower, a huge drop from the record high it achieved on Wednesday morning.
The Sensex ended lower by 146.52 points or 0.40%
at 36373.44, while the Nifty was down 26.00 points or 0.24% at 10982.00.
The market breadth was negative as 878 shares
advanced, against a decline of 1,689 shares, while 149 shares are unchanged.
Investors looked to cash out of majority of
sectoral indices, with major cuts visible among metals, auto and FMCG names.
Weakness among midcaps too weighed on the market.
The Nifty Midcap index ended over 1 percent
lower.
ONGC, Asian Paints, and Indiabulls Housing were
the top gainers on both indices, while metal stocks such as Tata Steel, Vedanta
and Hindalco were the top losers.
HEADLINES OF THE DAY
Results to be announced tomorrow :- 21st
Cen Mgt, ABB India, Bajaj Finance ,Bajaj Finserv, Bharat Immuno, DB Corp, GNA
Axles, Hatsun Agro, Kotak Mahindra, RBL Bank, Sagar Cement ,Sterlite Techno,
Vikas Ecotech.
Shares of Idea Cellular fell almost 8 percent on Wednesday
afternoon as investors turned wary of the Idea and Vodafone’s decision to pay
spectrum dues in a few weeks.
UltraTech Cement started off the financial year 2018-19 on a weak
note as profit during the April-June quarter fell 32.9 percent to Rs 598.39
crore due to dismal margin performance.
HT Media's net profit declines 86% to Rs 5.8 crore; stock plunges
13%
The crucial resistance for Nifty spot is now seen at 11060 and
above this 11185. Support for the immediate term is now placed at 10910 next
support will be 10800.
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