Closing Bell: Sensex ends over 450
points lower, Nifty gives up 11,450 as weak rupee weighs
Weak
rupee and macro concerns are likely to have weighed on the market on September
10, 2018. The day was largely dominated by the bears, with the benchmarks
seeing selling right from the first minute. Along with it, rupee’s weakness
ahead added to its woes. The Nifty gave up 11,450-mark
Traders
rushed to dump stocks in segments such as automobiles, banks, FMCG,
pharmaceuticals, and metals, among others. In the broader markets, selling in
midcaps also added to the woes of the bulls. The Nifty Midcap was down 2
percent.
At the
close of market hours, the Sensex ended lower by 467.65 points or 1.22% at
37922.17, while the Nifty fell 151.00 points or 1.30% at 11438.10. The market
breadth is narrow as 1,056 shares advanced, against a decline of 1,670 shares,
while 181 shares were unchanged.
HEADLINES OF THE DAY
Glenmark secures German
approval for generic Fluticasone and Salmeterol inhaler
Tata Global Beverages
stock jumps 3% on restructuring plan
Tata Motors Group global
wholesales up 14% yoy in Aug'18 driven by India sales
The crucial resistance for
Nifty spot is now seen at 11550 and above this 11630. Support for the immediate
term is now placed at 11390 next support will be 11340.
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