MARKET WRAP UP. 24-Sep-2018

Closing Bell: Sensex ends 536 points lower, Nifty gives up 11,000; financials weigh big.

Additionally, macros too made investors wary as crude prices touched USD 80 per barrel-mark. An effect was seen on oil marketing companies (OMCs) as well as aviation companies. Weaker rupee also added to the Street’s woes, with the currency trading around 72.64 per US dollar. This boosted IT stocks though, with Infosys, TCS, Wipro and HCL Tech, among others, gaining big.

There was selling across majority of sectors, with deep cuts seen among banks, auto, FMCG, metals and pharmaceuticals.

At the close of market hours, the Sensex closed down 536.58 points or 1.46% at 36305.02, while the Nifty was down 175.70 points or 1.58% at 10967.40. The market breadth is negative as 543 shares advanced, against a decline of 2,092 shares, while 161 shares were unchanged.

TCS and Coal India were the top gainers, while HDFC, M&M, Eicher Motors and Indiabulls Housing lost the most.

HEADLINES OF THE DAY

Fund managers have an exposure of Rs 15,000 crore to 5 NBFC stocks.

Experts say volatility may continue.

Market sell-off continues, Nifty below 11,000.

The crucial resistance for Nifty spot is now seen at 11100 and above this 11320 Support for the immediate term is now placed at 10900 next support will be 10720.

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