Sensex ends 272 points lower, Nifty closes below 10,700; auto, metals drag.

Capitalstars Financial research Pvt. Ltd.

And the bear run continues on D-Street, signaling a possible halt to this Santa rally. The Nifty has ended below 10,700, while the Sensex closed with cuts of nearly 300 points. 

Barring the IT index, all sectoral indices ended in the red, with auto, banks, consumption, energy and metals have closed lower. In the midcaps space, The Nifty Midcap index ended 0.7 percent lower. 

At the close of market hours, the Sensex was down 271.92 points or 0.76% at 35470.15, while the Nifty was lower by 90.50 points or 0.84% at 10663.50. The market breadth was negative as 908 shares advanced, against a decline of 1,638 shares, while 142 shares were unchanged. 

Wipro and TCS were the top gainers, while Hero MotoCorp, Bajaj Auto, and JSW Steel lost the most. 

The market will be shut on Tuesday on account of Christmas.

HEADLINES OF THE DAY

Max India - outcome of board meeting: Board of Directors of the Company, at its meeting held today, has considered and approved a composite scheme of amalgamation and arrangement amongst Max India, Max Healthcare Institute, Radiant Life Care.

Rupee Update: The Indian rupee has recovered from the lows and trading higher by 20 paise at 69.95 per dollar against Friday's close 70.15.

Indsil Hydro Power jumps 5%: Indsil Hydro Power and Manganese shares rallied 5 percent intraday Monday after its joint venture overseas subsidiary launched expansion project.

Gateway Distriparks approves fund raising plan: The comapny board approved raising of funds upto Rs 620 crore by issue of debt securities including non-convertible debentures and any other instruments for making balance payment to complete the acquisition of Compulsory Convertible Preference Shares (CCPS) in subsidiary company, Gateway Rail Freight (GRFL) from Blackstone and towards expansion of business/other corporate purpose.

Zydus Cadila gets USFDA approval: The company has received the final approval from the USFDA to market Doxycycline Hyclate Delayed-Release Tablets USP in the strengths of 75 mg, 100 mg and 150 mg.

Dr Reddy's has launched Aspirin and Dipyridamole capsules in US markets.


The crucial resistance for Nifty spot is now seen at 10720 and above this 10920 Support for the immediate term is now placed at 10480 next support will be 10370.

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