The Sensex and Nifty closed at fresh 20-month lows, dropping to their weakest since before the election of Prime Minister Narendra Modi on increasing concerns the country will be hit hard by the growing turmoil in global markets. The Sensex closed down 1.71%, or 417.80 points, at 24,062.04, its lowest close since 15 May 2014.The Nifty closed 1.69%, or 125.80 points, lower at 7,309.30, its lowest close since 30 May 2014.Both indexes fell as much as 2.6% each earlier in the session. Crude oil prices fell further on concerns of oversupplies while resumption of exports from Iran also weighed on sentiment. Meanwhile, the Indian rupee touched a 28-month low and was closed at 68.043 to the dollar.
Stock Intraday Tips For Tomorrow
- Buy PIPAVAVDOC above 79.50, Target for intraday are 80.50, 81.50 and 82.50, Put Stop loss at 77.50
- Sell LAMBODHARA below 120.50, Maintain a stop loss at 122.50, Intraday Targets are 119.50, 118.50 and 117.50
- Sell COX&Kings below 190.50, Targets are 188.50, 186.50 and 184.50, maintain stoploss at 194.50