ECONOMY ANALYSIS
Sensex tanks 339 pts, Nifty ends below 8500; ITC plunges 5%
Oil Min to cut subsidy burden of ONGC, adjust cess payment
Infosys falls 3.4% after founders sell stake worth $1.1 bn
Thangamayil Jewellery hits 52-week high, SBI MF ups stake
SpiceJet sinks 14.7% intraday; investors fret over survival
BofA cuts Sesa Sterlite earnings estimate, price target
MARKET ANALYSIS
The S&P BSE Sensex plunged as much as 351 points in trade on Monday,
led by sharp losses seen in Infosys, TCS, HDFC Bank, ICICI Bank and
L&T.
The Indian markets underperformed other Asian peers as profit booking
extended for the second straight session in a row. The 50-share Nifty
index slipped below its crucial psychological level of 8500 and also broke
below its 20-DMA placed at 8452 levels.
The BSE Sensex finally closed 338.70 points lower at 28,119.40. It hit a
low of 28,097.12 and a high of 28494.85 in trade today. The 50-share
Nifty index closed below its crucial psychological support level of 8500 at
8,438.25.
Another factor highlighted by experts is the fact that December is
generally seen as a slow month given the fact that most of the key events
are already over. There is not much on domestic or global front which will
aide trading activity.
Sensex tanks 339 pts, Nifty ends below 8500; ITC plunges 5%
Oil Min to cut subsidy burden of ONGC, adjust cess payment
Infosys falls 3.4% after founders sell stake worth $1.1 bn
Thangamayil Jewellery hits 52-week high, SBI MF ups stake
SpiceJet sinks 14.7% intraday; investors fret over survival
BofA cuts Sesa Sterlite earnings estimate, price target
The S&P BSE Sensex plunged as much as 351 points in trade on Monday,
led by sharp losses seen in Infosys, TCS, HDFC Bank, ICICI Bank and
L&T.
The Indian markets underperformed other Asian peers as profit booking
extended for the second straight session in a row. The 50-share Nifty
index slipped below its crucial psychological level of 8500 and also broke
below its 20-DMA placed at 8452 levels.
The BSE Sensex finally closed 338.70 points lower at 28,119.40. It hit a
low of 28,097.12 and a high of 28494.85 in trade today. The 50-share
Nifty index closed below its crucial psychological support level of 8500 at
8,438.25.
Another factor highlighted by experts is the fact that December is
generally seen as a slow month given the fact that most of the key events
are already over. There is not much on domestic or global front which will
aide trading activity.
Research
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