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| CapitalStars Investment Adviser |
Closing Bell: Nifty ends below 11,350, Sensex sheds 305 points; metal stocks gain, Bajaj Finserv falls 5%.
Benchmark indices reported third straight session loss on July 22 but ended off day's low with Nifty below 11,350 level.
At close, the Sensex was down 305.88 points at 38,031.13, while Nifty was down 73.10 points at 11, 346.20. About 816 shares have advanced, 1680 shares declined, and 155 shares are unchanged.
Bajaj Finserv, HDFC, Kotak Mahindra Bank, HDFC Bank and Eicher Motors were among major losers on the Nifty, while gainers were Yes Bank, Vedanta, Hindalco Industries, Zee Entertainment and Indiabulls Housing.
Among sectors, Banks and FMCG indices ended 1 percent lower, while buying seen in the metal, pharma, energy, IT and auto. On the other hand, midcap index was down 0.6 percent, while smallcap index shed 1%.
HEADLINES OF THE DAY
GSK Pharma Q1: Net profit rose 35% at Rs 113.5 crore versus Rs 84.1 crore, revenue up 7.1% at Rs 788 crore against Rs 735.7 crore. EBITDA up 21.9% at Rs 165.3 crore and margin was at 21%, YoY.
Benchmark indices are recovered from the day's low with Nifty hovering around 11350 level.
The crucial resistance for Nifty spot is now seen at 11480 and above this 11600 Support for the immediate term is now placed at 11200 next support will be 11060.
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