Stock Market Highlights: The markets remained under pressure midway through the Nifty expiry session. The Nifty fell close to 130 points, slipping below the 23,650 mark, while the Nifty Bank declined 250 points and fell below 57,000. Shriram Finance, Tech Mahindra and Mahindra & Mahindra were the top laggards.
Stock Market Highlights: The bears remained firmly in control of the market through the session, with the Indian benchmarks ending deep in the red. The Nifty 50 fell close to 120 points in this week’s expiry session, breaking below several key support levels and ending below the 23,700 mark.
From the August 3 high of 24,774, the index had fallen exactly 1,000 points. From the 24,350 levels, the Nifty had broken below 24,200, 24,000 and subsequently the 23,800 mark as well.
The bulls would now look to reclaim 23,800 and sustain above it before attempting a move towards 24,000. While the Nifty continued to break key support levels, the Nifty Bank managed to hold the 57,000 level on the downside, with the range likely to remain intact until a breakout in either direction.
Brent crude had also surged past the $98-a-barrel mark.
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