The market declined for second straight trading session on Monday, dragged by weakness in financial stocks. Negative cues from other Asian indices also put pressure on the bourses. The Nifty saw a gap-down opening and extended losses as the session progressed. The index hit fresh intraday low of 11,390.80 in early afternoon trade. Buying emerged at lower levels, pushing the Nifty above 11,500 mark in the mid-afternoon trade. After some volatility, it managed to close above 11450 mark.
Global Markets: Japan stocks were lower after the close on Monday, as losses in the Paper & Pulp, Railway & Bus and Real Estate sectors led shares lower.The Nikkei 225 lost 0.56%.
Australia stocks were lower after the close on Monday, as losses in the IT, Consumer Discretionary and Gold sectors led shares lower.The S&P/ASX 200 declined 0.41%.
Chinese stocks fell Monday after a report that the Trump administration is considering ways to limit U.S. investors’
exposure to Chinese assets.
Nifty Chart
Nifty50 formed hammer on daily chart, taken support at 100 day moving average 11409 and closed -0.33% at 11474.45. The next key support and resistance for the market is at 11440/11400 and 11540/11600.
