Closing Bell: D-Street ends week on a negative note. Nifty manages to hold 11,550, Sensex down 85 points.
Friday’s weak move was led by selloff in banks, IT and auto names, while metals looked to offer some support. The Nifty Metal index was up almost 2 percent. In the broader markets too, midcaps ended with cuts of one-third of a percent.
At the close of market hours, the Sensex ended lower by 84.96 points or 0.22% at 38251.80, while the Nifty was down 25.70 points or 0.22% at 11557.10. The market breadth was negative as 1,166 shares advanced, against a decline of 1,496 shares, while 197 shares were unchanged.
Among stocks, Vedanta and ONGC were the top gainers, while Yes Bank, Adani Ports, and Titan emerged as the biggest laggards on both indices.
HEADLINES OF THE DAY
Axis Bank gains 2% on report of Amitabh Chaudhry likely succeeding Shikha Sharma.
Hexaware tanks 17% as Baring PE likely to have sold 8.4% equity stake via block deals.
The crucial resistance for Nifty spot is now seen at 11600 and above this 11750 Support for the immediate term is now placed at 11450 next support will be 11250.
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