Banks, oil, infra stocks drag Sensex 273 pts; Nifty ends below 10,700 ahead of F&O expiry

Benchmark indices ended sharply lower amid weak global cues, dragged by oil, banking & financials and infra stocks.

The 30-share BSE Sensex fell 272.93 points to 35,217.11 and the 50-share NSE Nifty declined 97.80 points to 10,671.40 while the Nifty Midcap index shed 277 points on weak market breadth.

About four shares declined for every share rising on the BSE.

Reliance Industries, ICICI Bank, HPCL, BPCL, IOC, Bajaj Finance, L&T ITC and Bajaj Finserv are top contributors to the Nifty's loss.

HDFC Bank, Tech Mahindra and HCL Technologies outperformed.

HEADLINES OF THE DAY

Leading Indian steel producer JSW Steel has said it is looking for more deals in Europe and the United States to expand its global footprint, according to a report by Bloomberg.

Manpasand Beverages has reported 36 percent jump in its Q4 net profit at Rs 42.7 crore against Rs 31.3 crore in a year ago period.

Capacite Infra bags Rs 851.3cr orders: The company received orders from Oberoi Realty Group and Wadhwa Group and order from Kohinoor CTNL Infrastructure Company for total contract value worth of Rs 851.13 crore.

The crucial resistance for Nifty spot is now seen at 10785 and above this 10880. Support for the immediate term is now placed at 10550 next support will be 10410.

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