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Nifty ends June series below 10,600, Sensex dips 179 pts; Midcap index falls 2%

Benchmark indices ended sharply lower on the expiry day of June futures & options contracts, dragged by banking & financials and Reliance Industries. Weakness in the rupee and lingering trade tensions between the US and China also dented market sentiment.

The 30-share BSE Sensex shed 179.47 points to 35,037.64 and the 50-share NSE Nifty fell 82.30 points to 10,589.10 while the Nifty Midcap index dropped nearly 2 percent on weak market breadth.
More than two shares declined for every share rising on the BSE.

Reliance Industries (down 2 percent), ICICI Bank (2.7 percent), HDFC (1.41 percent), Bajaj Finance (2.6 percent), Tech Mahindra (7 percent), Titan Company (3.83 percent) and HPCL (down 5.5 percent) were top contributores to the Nifty's fall.

HDFC Bank (up 0.86 percent), Infosys (1.54 percent), Kotak Mahindra Bank (1.13 percent), Hindalco Industries (1.45 percent) and Tata Steel (up 1 percent) capped losses.


The Indian rupee recovered from its intraday all-time low of 69.09 against the dollar.

Manpasand Beverages in focus: The company has entered into a ten year agreement with Parle Products Private Limited for joint distribution of their products, pan-India.

Asia Index Private Limited, a joint venture between S&P Dow Jones Indices and BSE Ltd, announced the launch of the S&P BSE Diversified Financials Revenue Growth Index.

The crucial resistance for Nifty spot is now seen at 10700 and above this 10840. Support for the immediate term is now placed at 10550 next support will be 10410.

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