MARKET WRAP UP. 19-Sep-2018

Closing Bell: Sensex ends over 160 points lower, Nifty gives up 11,250; banks, FMCG names drag.

Equity benchmarks ended a volatile trading day in the red, with the Nifty giving up 11,250-mark. The Sensex ended over 169 points lower.

A selloff among major sectors such as banks, automobiles, and FMCG and a larger selling pressure among midcaps weighed on the indices. The Nifty Midcap index ended around a percent lower.

At the close of market hours, the Sensex closed lower by 169.45 points or 0.45% at 37121.22, while the Nifty was down 44.50 points or 0.39% at 11234.40. The market breadth is negative as 978 shares advanced, against a decline of 1,667 shares, while 186 shares were unchanged.

Coal India, ONGC, and BPCL were the top gainers while Bharti Airtel, IndusInd Bank, and Bajaj Finserv lost the most. 

HEADLINES OF THE DAY

Dinesh Engineers IPO to open on September 28, price band set at Rs 183-185/sh.

Liquidity issues at IL&FS are credit negative for banks, debt market: Moody's.

Coal India, ONGC, and BPCL were the top gainers while Bharti Airtel, IndusInd Bank, and Bajaj Finserv lost the most. 

The crucial resistance for Nifty spot is now seen at 11380 and above this 11500 Support for the immediate term is now placed at 11200 next support will be 11050.

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