ECONOMY ANALYSIS
- Sensex tanks 339 pts, Nifty ends below 8500; ITC plunges 5%.
- Oil Min to cut subsidy burden of ONGC, adjust cess payment.
- Infosys falls 3.4% after founders sell stake worth $1.1 bn.
- Thangamayil Jewellery hits 52-week high, SBI MF ups stake.
- SpiceJet sinks 14.7% intraday; investors fret over survival.
- BofA cuts Sesa Sterlite earnings estimate, price target.
MARKET ANALYSIS
- The S&P BSE Sensex plunged as much as 351 points in trade on Monday, led by sharp losses seen in Infosys, TCS, HDFC Bank, ICICI Bank and L&T.
- The Indian markets underperformed other Asian peers as profit booking extended for the second straight session in a row. The 50-share Nifty index slipped below its crucial psychological level of 8500 and also broke below its 20-DMA placed at 8452 levels.
- The BSE Sensex finally closed 338.70 points lower at 28,119.40. It hit a low of 28,097.12 and a high of 28494.85 in trade today. The 50-share Nifty index closed below its crucial psychological support level of 8500 at 8,438.25.
- Another factor highlighted by experts is the fact that December is generally seen as a slow month given the fact that most of the key events are already over. There is not much on domestic or global front which will aide trading activity.
No comments:
Post a Comment