INDIAN BENCHMARKS: BLOODBATH ON D-STREET, SENSEX DOWN 800 POINTS, NIFTY 50 BELOW 7000
The S&P BSE Sensex plunged over 800 points breaking the crucial 23,000-mark on Thursday tracking weak cues from other Asian and European markets and weak earnings by leading index constituents.
The Nifty50 broke below 7,000 level hitting fresh 52-week low, weighed down by losses in banks, power, oil & gas, metal, and realty stocks.
The broader market declined in line with the benchmark indices with the BSE midcap and BSE small cap indices slumping 2.6 and 3.4 per cent, respectively. Among the sectoral indices, the BSE Realty was the top loser down 3.7 per cent in trade. The market breadth was extremely weak with nine out of ten BSE stocks trading in the red.
UPCOMING RESULTS:
ADANIPORT, BPCL, CANARA BANK, HPCL, M&M.OIL, SUNPHARMA, SUNTV, ADANIPOWER
HEADLINES OF THE DAY
- SBI Q3 profit below estimates
- Jubilant Food Q3: Net Profit at Rs31.7 Crore
- Dr Reddys Labs board to consider buyback of shares
The crucial resistance for Nifty SPOT is now seen at 7120 and above this 7228. Support for the immediate term is now placed at 6910 and next support will be 6869.
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