Benchmark indices trade in red

Projections of the breakdown indicate that 10,500 levels is on the cards.

May 18, 2018 04:05 IST India Infoline News Service

Nifty extends weakness in the morning trades as the Head and Shoulder pattern breakdown unfolds.

Projections of the breakdown indicate that 10,500 levels is on the cards.

Bank Nifty continues to lose strength as well, immediate support is now seen around 25,900 levels.

The BSE Sensex was down 59.51 points at 35,089.61 and the NSE Nifty fell 17.90 points to 10,664.80.

JK Tyre rose as much as 7.83%, the most in over three-months post announcement of good numbers.

Voltas fell about 7.66%, the most in over 18 months post reporting its quarterly results where the company saw its profits declining.

Bajaj Finance (+3.12%), Bajaj Auto (+1.93%), Coal India (+0.90%), Tata Steel (+0.85%), Sun Pharma (+0.75%) were the top gainers on NSE.

Wipro (-1.96%), Ultratech Cement (-1.37%), Axis Bank (-1.22%), Cipla (-1.16%), BPCL (-1.13%) were the top losers on NSE.

Out of 2,036 stocks traded on the NSE, 690 advanced, 877 declined and 469 remained unchanged today.

A total of 6 stocks touched new 52-week high and 80 stocks hit new 52-week low.

Rupee opens at 67.77 per dollar as against yesterday's close at 67.70 per dollar

Global Markets:

U.S. stocks witnessed a choppy trading session ending the day marginally lower. The Dow and Nasdaq corrected 0.2% to 24,713.98 and 7,382.47 respectively, while the S&P 500 edged down 0.1% to 2,720.13.

The choppy trading on Wall Street came as traders expressed uncertainty about the second round of trade talks between the U.S. and China after President Donald Trump expressed some doubt about whether the high-level trade talks with China will be successful.

European markets managed to close firmly higher yesterday with FTSE ending 0.69% higher, DAX closed 0.97% higher, while the CAC was up 0.90%

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