INDIAN BENCHMARKS: NIFTY ENDS BELOW 8150,SENSEX SHEDS 240 POINTS
The bulls failed to keep the momentum going on Dalal Street on the first trading day of the week, as the S&P BSE Sensex fell by about 300 points, led by losses in the shares of ICICI Bank, Tata Motors, L&T, ITC and Tata Steel.
The Nifty50 slipped below its crucial support level at 8,100 weighed down by losses in realty, power, oil & gas, capital goods, banks and auto stocks.
After a lot of struggle, the market has ended sharply lower. The Nifty ended below 8150, down down 59.45 points or 0.7 percent. The Sensex is down 238.98 points or 0.9 percent at 26396.77. Dr Reddy's Labs, Lupin, Maruti, Sun Pharma and Adani Ports were top gainers while Tata Steel, ICICI Bank, Tata Motors, Bharti Airtel and BHEL were laggards in the Sensex.
HEADLINES OF THE DAY
Weak IIP numbers: Sentimentally negative.
Yes Bank hogs limelight as RBI hikes foreign holding limit.
Coal India's two mining subsidiaries decide to buy back shares.
The crucial resistance for Nifty spot is now seen at 8163 and above this 8216. Support for the immediate term is now placed at 8070 and next support will be 7995.
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