INDIAN BENCHMARKS: SENSEX NIFTY ENDS LOWER, BANKS DRAG, FMCG UP


INDIAN BENCHMARKS: SENSEX NIFTY ENDS LOWER, BANKS DRAG, FMCG UP

Benchmark indices closed lower for the first time in last 10 consecutive sessions, dragged by banks. However, the upside in ITC capped losses.
The 30-share BSE Sensex was down 63.38 points at 34,331.68 and the 50-share NSE Nifty fell 22.50 points to 10,526.20.

ITC and Wipro were biggest gainers.
Axis Bank, Tech Mahindra, Lupin, M&M, Titan Company and IndusInd Bank were down between 1 percent and 2.5 percent.

Godrej Consumer Products, Godrej Industries, Bombay Burmah, Kaya, Jaiprakash Associates, Parag Milk Foods, Mishra Dhatu, Delta Corp, Dabur India, V-Guard Industries, Indian Hotels, EIH Associated Hotels and Amara Raja Batteries gained up to 9 percent.
Kamat Hotels, Jet Airways, Andhra Bank, Bank of Baroda, Jaypee Infratech, Bhushan Steel, OBC, Balrampur Chini, Alok Industries fell up to 5 percent.


HEADLINES OF THE DAY

Vedanta to acquire 90% stake in Electrosteel Steels
Glenmark receives approval for gProtopic
Marico to acquire 22.5% stake in Revofit, a fitness app


The crucial resistance for Nifty spot is now seen at 10590 and above this 10645. Support for the immediate term is now placed at 10450 next support will be 10300.



UPCOMING RESULTS: RPOWER, MAHINDRACIE, INDUSIND BANK, TCS, CYIENT, RSSOFTWARE, INFOMEDIA


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