INDIAN BENCHMARKS: SENSEX ENDS 143 POINTS DOWN,NIFTY 50 AT 6 MONTHS LOW OF 7510
The domestic equity market tanked on Tuesday, as the bears took charge on Dalal Street after crude oil prices slumped below the $31 a barrel mark for the first time in 12 years.
Bank stocks led the slump, after December quarter numbers of two lenders showed a spike in bad loans, raising fresh asset quality concerns.
The S&P BSE Sensex slumped to its fresh 52-week low in intraday trade before closing 54 points, or 0.7 per cent, lower at 7510.30. The 50-share Nifty Trading Tips 50 made its fresh 52-week low, ending the day at 24,682.03, down 143 points, or 0.58 per cent. Federal Bank and Gruh Finance were the top losers on the BSE benchmark.
HEADLINES OF THE DAY
- IndusInd Bank drops on marginal deterioration in Q3 asset quality
- Federal Bank Q3 net profit down 38.52% (YoY)
- L&T arm bags new order worth Rs1, 247 cr
The crucial resistance for Nifty SPOT is now seen at 7610 and above this 7752.Support for the immediate term is now placed at 7487 and next support will be 7440.
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