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| capitalstars Financial Research Pvt. Ltd. |
Bears took complete control on D-Street, as benchmark indices shed nearly 2 percent. Weak global cues, reactions to exit polls as well as weak macro data weighed big on Sensex and the Nifty.
The 50-share index ended the session below 10,500.
Selling was visible across all sectors, with maximum pain seen among banks, automobiles, energy, consumption and pharmaceuticals, among others.
At the close of market hours, the Sensex was down 713.53 points or 2.00% at 34959.72, and the Nifty down 205.20 points or 1.92% at 10488.50. The market breadth was negative as 647 shares advanced, against a decline of 1870 shares, while 134 shares were unchanged.
Coal India, Maruti Suzuki, IOC and BPCL were the top gainers, while Kotak Mahindra Bank, Reliance Industries, and Indiabulls Housing lost the most.
HEADLINES OF THE DAY
HCL Technologies announced a new five-year contract with multinational life insurance, pensions and asset management company Aegon.
CONCOR to consider bonus issue: A meeting of the board of directors of the company is scheduled to be held on December 20 to consider issue of bonus shares to the shareholders of the company which, if approved, will be subject to applicable regulatory provisions and the approvals of shareholders and others as may be required for the same.
Lupin received Establishment Inspection Report (EIR) for its Pithampur (Unit 3) facility. The inspection at the site was conducted between June 12, 2017 and June 16,2017.
Kotak Mahindra Bank shares plunged more than 6 percent intraday Monday after the lender filed writ petition before Bombay High Court to validate its position w.r.t perpetual non-convertible preference shares (PNCPS).
The crucial resistance for Nifty spot is now seen at 10340 and above this 10200 Support for the immediate term is now placed at 10590 next support will be 10680.
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