INDIAN BENCHMARKS: SENSEX ENDS 285 POINTS DOWN AS GOVERNMENT CUTS GDP FORECAST, NIFTY 50 BELOW 7800
As poor agricultural growth poured water on the Modi government's 8.1-8.5 per cent GDP growth forecast for FY16, Dalal Street reacted to the announcement by snapping a four-day winning streak on Friday.
The S&P BSE Sensex plummeted 285 points, or 1.1 per cent, to end the day at 2,519 while the 50-stock barometer, Nifty50, ended at 7,761.95 , down 82.40 points, or 1.10 per cent.
HEADLINES OF THE DAY
- Power Grid gets RBI nod to hike FIIs investment
- Maruti gets minority shareholder approval for setting up Gujarat plant
- HDFC to sell stake in HDFC ERGO to ERGO Insurance
The crucial resistance for Nifty Trading Tips SPOT is now seen at 7853 and above this 7912 Support for the immediate term is now placed at 7715 and next support will be 7625.
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