INDIAN BENCHMARKS: SENSEX ENDS 248 POINTS LOWER, NIFTY 50 BELOW 7800
The domestic equity market slipped on Friday after a less-than-expected stimulus from the European Central Bank, which on Thursday decided to cut bank lending rates to minus 0.3 per cent and extend its bond-buying program till March 2017.
The S&P BSE Sensex tanked 248 points, or 0.96 per cent, to 25,638 while 50-stock benchmark Nifty50 ended at 7,781, down 82 points, or 1.05 per cent. M&M and HDFC were the top losers on the BSE benchmark.
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The crucial resistance for Nifty SPOT is now seen at 7832 and above this 7879. Support for the immediate term is now placed at 7765 and next support will be 7725.
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