INDIAN BENCHMARKS: SENSEX ENDS DOWN 300 POINTS, NIFTY 50 TESTS 7450
The S&P BSE Sensex slipped over 300 points in trade on Thursday bucking the largely positive cues from other Asian markets as investors resorted to profit booking post a five-day rally.
The Nifty50 came under pressure to trade below its key support level of 7,450, supported by gains in realty, power, oil & gas, consumer durable, and auto stocks. The broader market traded outperformed the benchmark indices with the BSE midcap and BSE small cap indices slipping 0.37 and 0.30 per cent, respectively. Shares of Just Dial surged over 6 per cent in early trade while those of Infosys slipped over 2 per cent. The market breadth was positive with seven of every ten BSE stocks trading in the green.
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The crucial resistance for Nifty SPOT is now seen at 7550 and above this 7634. Support for the immediate term is now placed at 7405 and next support will be 7380.
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