Closing Bell: Sensex ends 274 points lower, Nifty holds 10,600; Dr Reddy’s up 6%.
Equity benchmarks continued with their downtrend for second consecutive day, in tandem with global markets, with Nifty holding 10,600.
A global sell-off mirrored in the Indian markets as well, while a recovery in crude oil prices weighed on benchmarks.
The Nifty IT index was the big loser along with energy stocks as well. Meanwhile, pharmaceuticals and PSU banks were the big gainers. In the broader markets, Nifty Midcap index rose over half a percent.
At the close of market hours, the Sensex was down 274.71 points or 0.77% at 35199.80, while the Nifty ended down 56.20 points or 0.53% at 10600.00. The market breadth was negative as 1,256 shares advanced, against a decline of 1,305 shares, while 136 shares were unchanged.
Yes Bank, Axis Bank, and Dr Reddy’s were the big gainers, while TCS and Infosys lost the most.
HEADLINES OF THE DAY
DHFL's gross non-performing assets as a percentage of gross advances increased to 0.96 percent in Q2FY19 against 0.93 percent in previous quarter.
European stocks were higher, clawing their way back from the sharp losses sustained in the previous session.
Shares of Jet Airways rallied over 6 percent intraday Wednesday after a media report indicated that promoter is in talks with foreign partner for financial support.
Adani Gas locked in upper circuit Adani Gas was locked in 20 percent upper circuit at Rs 97.80 on Wednesday after the company expanded its pan-India presence by bagging 13 city gas distribution (CGD) projects.
The crucial resistance for Nifty spot is now seen at 10750 and above this 10920 Support for the immediate term is now placed at 10540 next support will be 10470.
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