Closing Bell: Nifty ends August series
below 11,700, Sensex ends flat; pharma, metals gain big
A good
recovery in the last hour of trade helped D-Street cut big losses and end
August series on a slightly better note. However, the Nifty managed to close
below 11,700-mark.
A weak
rupee weighed on indices through the day, with the Indian currency dropping to
a fresh low of 70.8550. Analysts had attributed the fall to rising crude oil
prices and month-end dollar buying by oil companies to pay these off.
Among
sectors, FMCG, metals and pharma along with PSU banks were the top gainers,
while auto, energy and Bank Nifty were the big laggards. In the broader
markets, the Nifty Midcap index, too, ended over one-fifth of a percent higher.
At the
close of market hours, the Sensex ended lower by 32.83 points or 0.08% at
38690.10, while the Nifty was down 12.20 points or 0.10% at 11679.70. The
market breadth was positive as 1,441 shares advanced, against a decline of
1,255 shares, while 169 shares were unchanged.
HEADLINES OF THE DAY
TCS to buy back up to
Rs7cr shares from Sept. 6-21
Cadila gets two final
USFDA approvals
Laurus Labs gets USFDA
nod for Metformin Hydrochloride Tablets USP
The crucial resistance
for Nifty spot is now seen at 11760 and above this 11840. Support for the
immediate term is now placed at 11620 next support will be 11550.
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