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Benchmark indices closed lower for second consecutive day amid liquidity crisis and weak global cues.
The Sensex fell 71.53 points to 39,122.96 and the Nifty declined 24.40 points to 11,699.70. The Nifty Midcap and Smallcap indices dropped 0.4 percent each.
UPL, Yes Bank, M&M, Indiabulls Housing and TCS were top gainers among Nifty50 stocks, rising 1-5 percent whereas JSW Steel, ONGC, Eicher Motors, Tata Steel and Vedanta fell 2-3 percent.
Reliance Power, PC Jeweller, IFCI, Glenmark Pharma, Mahanagar Gas, IGL, Gujarat Gas, Motherson Sumi, Cadila Healthcare, Edelweiss FInancial and Dish TV were down 3-12 percent.
Jain Irrigation, HDIL, DHFL, Zee Media, BHEL and NBCC rallied 3-14 percent.
HEADLINES OF THE DAY
NTPC has signed a Joint Venture Agreement with Power Grid Corporation of India to incorporate a Joint Venture Company (JVC) with equity participation of 50:50, respectively with an objective to undertake the business for distribution of electricity in distribution circles in various States and Union Territories of India and other related activities.
Ramco Systems in an exchange filing said European multimodal logistic player Forwardis has signed Logistics Digital Transformation program with
the company. It will implement Ramco Logistics Suite across all entities of the Group.
SBI Life Insurance Company shares rallied nearly 2 percent to hit a fresh 52-week high of Rs 713.80 as global brokerage Morgan Stanley expects strong growth across cycles.
European stocks were mixed as investors continue to monitor geopolitical tensions between the US and Iran stoking fears of a military confrontation in the Middle East.
The Sensex fell 71.53 points to 39,122.96 and the Nifty declined 24.40 points to 11,699.70. The Nifty Midcap and Smallcap indices dropped 0.4 percent each.
UPL, Yes Bank, M&M, Indiabulls Housing and TCS were top gainers among Nifty50 stocks, rising 1-5 percent whereas JSW Steel, ONGC, Eicher Motors, Tata Steel and Vedanta fell 2-3 percent.
Reliance Power, PC Jeweller, IFCI, Glenmark Pharma, Mahanagar Gas, IGL, Gujarat Gas, Motherson Sumi, Cadila Healthcare, Edelweiss FInancial and Dish TV were down 3-12 percent.
Jain Irrigation, HDIL, DHFL, Zee Media, BHEL and NBCC rallied 3-14 percent.
HEADLINES OF THE DAY
NTPC has signed a Joint Venture Agreement with Power Grid Corporation of India to incorporate a Joint Venture Company (JVC) with equity participation of 50:50, respectively with an objective to undertake the business for distribution of electricity in distribution circles in various States and Union Territories of India and other related activities.
Ramco Systems in an exchange filing said European multimodal logistic player Forwardis has signed Logistics Digital Transformation program with
the company. It will implement Ramco Logistics Suite across all entities of the Group.
SBI Life Insurance Company shares rallied nearly 2 percent to hit a fresh 52-week high of Rs 713.80 as global brokerage Morgan Stanley expects strong growth across cycles.
European stocks were mixed as investors continue to monitor geopolitical tensions between the US and Iran stoking fears of a military confrontation in the Middle East.
The crucial resistance for Nifty spot is now seen at 11840 and above this 11960 Support for the immediate term is now placed at 11560 next support will be 11420.
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