Benchmark indices Sensex and Nifty shut decreased on Monday amid a weak trend in international marketplaces. Sensex declined 200.18 details to end at 57,991.11. Throughout the working day, it tumbled 825.61 factors or 1.41 per cent to 57,365.68. Nifty fell 73.65 points or .43 per cent to shut at 17,241.
IT shares have been the best sectoral gainers with their BSE index zooming 255 details to 28,444. Prime losers were client durables and capital items shares with their indices falling 618 points and 315 points, respectively.
This is a glimpse at what analysts said about the course the industry is possible to choose currently.
Prashanth Tapse, Exploration Analyst, Senior VP (Investigate), Mehta Equities
“Traders now appear ahead to the every month US CPI report on Thursday amid fears that higher electrical power selling prices could fuel inflationary pressures. Also commanding attention will be the FOMC minutes to trickle in on Oct 12th. Technically talking, the downside chance for Nifty is now observed restricted at the assist level of 17,000 mark. We count on the Nifty bulls to aim at the 17,500-17,707 zone in the around term.”
Nagaraj Shetti, Technical Analysis Analyst, HDFC Securities
“The shorter-phrase trend of Nifty is weak with significant volatility. The emergence of sharp buying interest from near the lows could be a cheering variable for the bulls to make a comeback. Hence, one might hope Nifty to retest the hurdle of 17,400 levels in the close to time period. Instant support is placed at 17,050-17,100 degrees.”
Rupak De, Senior Specialized Analyst at LKP Securities
“The trend is possible to remain sideways in the near phrase. Over the around expression, the Nifty might go inside of the vary of 17,000-17,300. A decisive tumble underneath 17,000 may trigger a offering force in the industry. On the increased stop, a decisive go previously mentioned 17,300 may perhaps induce a rally to 17,600.”
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