MARKET ANALYSIS
Benchmark indices came under tremendous selling pressure and slipped over 2 per cent in intraday trade on Tuesday as the rupee weakened further against the US dollar to hit its all-time low of 61.80.
The S&P BSE Sensex corrected over 500 points in intraday trade, while the 50-share Nifty index plunged below its crucial support level of 5550 to its lowest level since April 16.
The partially convertible rupee fell to as much as 61.80 to the dollar, smashing through a previous low of 61.21 hit on July 8, on what traders said was dollar demand from importers.
The 50-share index closed at 5,542.20, down 143 points or 2.5 per cent. It touched a high of 5,664.90 and a low of 5,521.80 in trade today.
The S&P BSE Sensex was at 18,733.04, down 449.22 points or 2.3 per cent. It touched a high of 19,131.92 and a low of 18,667.30 .
DAILY PIVOTS
INDEX S1 S2 PP R1 R2
NIFTY 5487 5433 5576 5630 5719
BANK NIFTY 9571 9439 9792 9924 10145
Benchmark indices came under tremendous selling pressure and slipped over 2 per cent in intraday trade on Tuesday as the rupee weakened further against the US dollar to hit its all-time low of 61.80.
The S&P BSE Sensex corrected over 500 points in intraday trade, while the 50-share Nifty index plunged below its crucial support level of 5550 to its lowest level since April 16.
The partially convertible rupee fell to as much as 61.80 to the dollar, smashing through a previous low of 61.21 hit on July 8, on what traders said was dollar demand from importers.
The 50-share index closed at 5,542.20, down 143 points or 2.5 per cent. It touched a high of 5,664.90 and a low of 5,521.80 in trade today.
The S&P BSE Sensex was at 18,733.04, down 449.22 points or 2.3 per cent. It touched a high of 19,131.92 and a low of 18,667.30 .
DAILY PIVOTS
INDEX S1 S2 PP R1 R2
NIFTY 5487 5433 5576 5630 5719
BANK NIFTY 9571 9439 9792 9924 10145
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