INDIAN BENCHMARKS MARKET WRAP-UP UPDATES

INDIAN BENCHMARKS: SENSEX PLUNGES 266 POINTS NIFTY 50 DROPS BELOW 7300

Top IT and banking stocks pulled the domestic equity benchmarks down on Tuesday amid a global selloff in equities, as the market extended the losing streak to a second day. 

The 30-share BSE Sensex closed at 24020.98, down 1.10 per cent or 266.44 points. The NSE's Nifty Trading Tips 50 index ended at 7298.20, down 1.21 per cent or 89.05 points. 

Among other big losers in the index, shares of Coal India fell 4.59 per cent, Tata Motors -4.12 per cent and Dr Reddy's 4 per cent. Pharma duo Lupin and Sun Pharma ended the day as biggest gainers in the Sensex pack, up 4 per cent and 2.30 per cent, respectively. 

UPCOMING RESULTS:

ACC, AMBUJA, CIPLA, INDIACEM, BATAINDIA, REC, TATACHEMICAL, TATAGLOBAL

HEADLINES OF THE DAY

• PNB drops on sharp rise in Q3FY16 NPAs, loss at PBT level
• Hindalco Industries Q3 net profit drops 89% (YoY)
• Gail Q3 net profit up 10% (YoY)

The crucial resistance for Nifty SPOT is now seen at 7365 and above this 7457. Support for the immediate term is now placed at 7250 and next support will be 7176.

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