Equity benchmarks fell for the fifth consecutive session, dragged by banks, oil and pharma stocks.
The 30-share BSE Sensex was down 66.72 points at 26307.98 and the 50-share NSE Nifty declined 21.95 points to 8082.40.
Banks as well as non-banking finance stocks continued to reel under selling pressure on fears of likely farm loan waiver. Even the collection efficiency of non-banking finance companies, after demonetization, is still low, though it improved in last 3-4 weeks. Bharat Financial, M&M Financial and Bajaj Finance lost 4-8 percent.
HEADLINES OF THE DAY
Maruti Suzuki to launch Baleno RS in February 2017.
Tata Coffee to set up coffee plant in Vietnam.
Cipla seeks shareholders nod to raise Rs4, 000 cr.
The crucial resistance for Nifty spot is now seen at 8135 and above this 8190 Support for the immediate term is now placed at 8055 and next support will be 7950.