The S&P BSE Sensex slipped over 350 points on Tuesday as oil producers agreed on freezing oil output at January levels. The Nifty50 was trading below its crucial psychological level of 7,100 after reclaiming 7,200 for a brief period of time.
Shares of Gati surged over 7 per cent in trade while those of Emami slipped about 3 per cent. ONGC and Adani Ports & SEZ shares climbed 2 per cent each on the BSE benchmark.
The broader market traded in line with the benchmark indices with the BSE midcap and BSE small cap indices shedding 1.91 and 1.47 per cent, respectively.
HEADLINES OF THE DAY
HCL signs IT outsourcing deal with Volvo Group
Biocon gets approval for generic Crestor in Europe
Gati gains on plan to invest in logistics start-ups
The crucial resistance for Nifty SPOT is now seen at 7182 and above this 7271. Support for the immediate term is now placed at 6980 and next support will be 6869.
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