Closing Bell: Monday blues on D-Street!
Sensex tanks 500 pts, Nifty ends below 11,400; banks, pharma fall.
Selloff
in Asian markets, a weaker rupee, a possible dissatisfaction of investors to
rupee’s measures by the government pulled the indices lower. Trade war concerns
based on reports that China may face import tariffs on USD 200 billion worth of
goods dented sentiment on the D-Street.
There was
all-round selling among all sectors, with maximum pain visible among
pharmaceuticals, banks, automobile and metal names. IT stocks were the biggest
gainers as investors cashed in on depreciating rupee.
At the
close of market hours, the Sensex was down 505.13 points or 1.33% at 37585.51,
while the Nifty was lower by 137.40 points or 1.19% at 11377.80. The market
breadth is negative as 1,272 shares advanced, against a decline of 1,448
shares, while 178 shares were unchanged.
TCS,
Adani Ports, BPCL and HPCL were the top gainers, while Sun Pharma, Tata Motors,
and Bajaj Finance have lost the most.
HEADLINES OF THE DAY
HDFC
Bank hikes base rate by 20 bps to 9.15%, IndusInd Bank hikes MCLR by 5 bps.
Shares
of Dynemic Products surged 20 percent after company received an environment
clearance for its project in Bharuch.
The crucial resistance for
Nifty spot is now seen at 11450 and above this 11610 Support for the immediate
term is now placed at 11280 next support will be 11150.
Financial Advisory Company in Indore, Stock Advisory Company in Indore , Equity Tips , Free Trading Tips , MCX Tips , sebi registered advisory company , Intraday stock tips , Free commodity tips
0 comments:
Post a Comment