A morning walk down Dalal Street | Breach of 11,460 on the downside could fuel further selling pressure
Episode 1419, Jul 10, 2019, 01:30 AM
Stable Tuesday after a manic Monday! It was indeed a day of consolidation on D-Street after D-Street suffered its worst day of 2019 on Monday. The index bounced back from the lows which suggest firepower of the bulls at lower levels.
The Nifty50 index bounced from its 100-days moving the average to reclaim 11500-11550 levels towards the close of the trade. The final tally on D-Street – the S&P BSE Sensex closed 10 points higher at 38,730 while the Nifty50 ended 2.7 points down at 11,555.
Amongst the broader market indices, ‘BSE Midcap’ outperformed the benchmark and ended higher by 0.6%, while ‘BSE Smallcap’ ended marginally positive.
Amongst the sectoral indices, heavy selling was witnessed in consumer durables (down 6.8%) as Titan plunged 12.4% on account of muted Q1FY20 commentary.