Closing Bell: Sensex sheds 300 points, Nifty gives up 10,700; IT, metals & pharma crack.
It’s a negative end for the market on Tuesday, failing to cash in on the positive start it had at the start of this week. The Nifty has ended below 10,700, with immense selling seen among all sectors.
Selling was visible the most among sectors such as IT, metals and pharmaceuticals. Meanwhile, financials, automobiles and consumption also saw weak trades.
In the broader markets, the Nifty Midcap index ended the day over a percent lower.
At the close of market hours, the Sensex shut down 300.37 points or 0.84% at 35474.51, while the Nifty ended lower by 107.20 points or 1.00% at 10656.20. The market breadth was negative as 857 shares advanced, against a decline of 1,706 shares, while 150 shares were unchanged.
Adani Ports, IndusInd Bank, and GAIL were the top gainers, while Yes Bank, Tata Steel and Hindalco lost the most.
HEADLINES OF THE DAY
RBI and govt to finalise panel on surplus transfer within a week: Sources.
Yes Bank has issued a revised press release with respect to the resignation of R Chandrashekhar.
ICICI Bank may raise Rs 25,000 crore to lend amid NBFC liquidity crunch.
Glenmark Pharma receives ANDA approval: Glenmark Pharmaceuticals Inc., USA has been granted final approval by the United States Food & Drug Administration (USFDA) for Azelaic Acid Gel, 15%, a generic version of Finacea Gel, 15%, of Leo Pharma A/S.
The crucial resistance for Nifty spot is now seen at 10750 and above this 10920 Support for the immediate term is now placed at 10580 next support will be 10470.
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