INDIAN BENCHMARKS: SENSEX SLIPS OVER 100 POINTS, NIFTY 50 BELOW 8350
The S&P BSE Sensex traded 100 points lower on Tuesday with a negative bias led by losses in HDFC Bank, L&T, ITC, Axis Bank, and Tata Motors.
The Nifty50 was trading around its crucial level of 8,350 weighed down by losses in realty, IT, power, consumer durable, and banking stocks.
Adani Ports (up 1.1 per cent), ICICI Bank (up 0.89 per cent), Coal India (up 0.65 per cent), Dr Reddy's Laboratories (up 0.55 per cent), and Maruti Suzuki (up 0.35 per cent) were the major Sensex gainers.
Bajaj Auto (down 0.75 per cent), NTPC (down 0.74 per cent), GAIL (down 0.57 per cent) and Axis Bank (down 0.50 per cent) were the major Sensex losers.
HEADLINES OF THE DAY
Reliance Industries receives green nod for drilling wells
Alembic Pharma gets tentative approval for Febuxostat tabs
Adani Ports raises fund via NCDs
The crucial resistance for Nifty spot is now seen at 8443 and above this 8561. Support for the immediate term is now placed at 8294 and next support will be 8230.