Closing Bell: Sensex closes over 100 points lower, Nifty below 10,900; IT stocks gain.
Shares have closed lower, amid caution ahead of RBI’s monetary policy committee meeting outcome on Wednesday. Uncertainty over US-China trade truce has also weighed on indices.
Among sectors, weakness was visible among automobiles, banks, consumption and infrastructure names, while IT and pharma index ended in the green. The Nifty Midcap index was lower by around one-third of a percent.
At the close of market hours, the Sensex closed down 106.69 points or 0.29% at 36134.31, while the Nifty was lower by 14.30 points or 0.13% at 10869.50. The market breadth is negative as 1154 shares advanced, against a decline of 1393 shares, while 143 shares were unchanged.
ONGC, Wipro, and BPCL were the top gainers, while Sun Pharma and M&M lost the most.
HEADLINES OF THE DAY
Uflex shares rallied 6.5 percent intraday Tuesday on receiving patent from the United States for BOPET film.
Ramco System shares climbed 4.4 percent intraday after the company joined hands with KPMG Malaysia to offer HR & payroll business platform as a service (BPaaS).
Tata Motors Plans Large-scale Overhaul Of Its Sales Network.
Govt Not To Participate In LIC's Open Offer In IDBI Bank.
IL&FS New Board Says Group-level Resolution For Crisis, Debt Unlikely.
IDBI Bank Tuesday said government will not participate in LIC's open offer to acquire 51 percent stake in the bank.
The crucial resistance for Nifty spot is now seen at 10920 and above this 11200 Support for the immediate term is now placed at 10700 next support will be 10590.
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