The Sensex declined
44 points to 27833 and the Nifty fell 11 points to 8466. About 1567 shares have
advanced, 1228 shares declined, and 117 shares are unchanged on the BSE.
Shares of Sharon Bio Medicine were locked at 20 percent upper circuit at Rs
21.30 on Tuesday after the US drug regulator audited company's formulation
plant in Uttarakhand. It was a volatile opening for Nifty
future as it rallied to an intraday high of 8531 after a weak open and slipped
to a low of 8480 in the opening session itself. Neither did it cross the
initial high posted in subsequent rallies nor did it breach the low on sell
offs. It closed in the negative below the 8500 level, off the high and low of
the day. Some consolidation in the 8440-8530 region was seen after the big move
on the previous day before the next trending move. On the higher side, 8500 is
the immediate resistance above which 8540 is the next supply zone and this must
be taken out before fresh momentum can be expected. 8590-8612 must be taken out
decisively before the bulls can feel comfortable again. On the lower side, 8475
is the immediate support below which 8460, 8410, 8387, 8372 are important
levels expected to give some support. Below 8400, the initiative will move in
the hands of the bears. A decisive breach of 8370 will signal further weakness.
- Eros International Ltd rallied over 11 per cent in intraday trade.
- Sun TV Ltd lost 8 per cent in intraday trade.
- Srei Infra Ltd spiked over 6 per cent in intraday trade.
- Tata Coffee Ltd surged over 12 per cent in intraday trade.
TOP GAINERS AND LOSERS ARE:
Top Gainers
INFOSYS LTD (2.6%), TCS (2.2%), TATA STEEL (1.9%), L&T (1.7%), SBI (1.6%)
Top Losers
GAIL (-3.6%), CIPLA (-1.9%), COAL INDIA (-1.7%), ITC LTD (-0.9%), ICICI BANK (-0.9%)
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