INDIAN BENCHMARKS: SENSEX CRACKS 200 POINTS, NIFTY CLOSES BELOW 7750
The domestic equity market had a promising start on Tuesday and the benchmark indices showed strength through the first half of the session, but midway through the day, the indices gave up all the gains and slumped, ending the day deep in the red.
IT bellwether Infosys, which slipped nearly 2 per cent, along with ICICI Bank (down 2.50 per cent), TCS (down 2 per cent) and ITC (down 1.26 per cent) proved a big drag on the 30-pack Sensex, which ended the day at 25,229.70, down 207.27 points or 0.81 per cent. NSE's 50-share barometer Nifty closed at 7,747, down 58.90 points or 0.75 per cent.
UPCOMING RESULTS TOMORROW: HEXAWARE, JINDALSTEL, SKS MICRO, V GUARD, ADANIENT, DHFL, MANGLMCEM
HEADLINES OF THE DAY
Century Textiles Q4 net profit down 22% (YoY)
TVS Motor slumps as Q4 earnings miss estimates
MRF Q4 net profit up 13% (YoY)
The crucial resistance for Nifty SPOT is now seen at 7890 and above this 7978. Support for the immediate term is now placed at 7666 and next support will be 7582.