Sensex falls over 240 pts; Nifty down 95 pts at 10435.50

Closed Market- Sensex, Nifty shut the first trading session of 2018 near day’s low accompanied by a sharp sell-off in the end hour of trades. Selling pressure in auto stocks, IT, among others, led to a plunge in Indian market, with the BSE Sensex down 244.08 points at 33,812.75, while the NSE Nifty slipped by 95.20 points at 10435.50. Auto stocks nose-dived. 

The auto index such as Ashok Leyland (-0.5%), M&M (-1.07%), Tata Motors (-1.25%), Hero MotoCorp (-0.59%), Bajaj Auto (-0.76%) and Eicher Motors LImited (-1.16%) edged lower. 

Top gains catch by BHEL, Coal India Ltd, Tata Power Ltd and Indiabulls HF, while major losers include IndusInd Bank, Tata Motors Ltd, Tata Consultancy Services, Bharti Infratel. 

FMCG major Hindustan Unilever Limited (HUL) dropped 1.4% at Rs 1,349, while housing finance major HDFC declined 0.94% at Rs 1,694.35. Telecom Stocks declined, which include Idea Cellular (-2.87%), Reliance Communications (-2.54%), Bharti Infratel (-2.07%) and Bharti Airtel (-0.17%). 

Except the Nifty realty, Nifty media and pharma index all the other sectoral indices ended with losses. Nifty Bank and Auto indices were the top losers followed by IT and FMCG index.

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BUY JAICORPLTD ABOVE 193.0 TARGETS 195, 197, 199 STOPLOSS- 189
BUY BIRLAMONEY ABOVE 101.8 TARGETS 102.8, 103.8, 104.8 STOPLOSS 99.8

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