Sensex dips 242 pointts on China data, Re

A global slide in stock markets and weakness in several currencies created a panic among investors on Dalal Street on Friday, pulling the sensex down 242 points to 27,366 — its lowest close in two months. The main trigger for the global selloff was another set of weak economic data from China that again highlighted the deep fault lines in the world's second largest economy, prompting foreign funds to sell aggressively Stock Market Trading Tips

Investors net sold Rs 2,340 crore during the day, the biggest single-session outflow in over three months, official data showed. The continuing weakness in the rupee, which traded below the 65 to a dollar level, weighed on foreign funds too, according to institutional dealers. 

Vivek Gupta, director (research), CapitalVia Global Research, said the high market volatility throughout the week was mainly because of the fall in global markets and depreciating Indian currency due to fear of Chinese currency devaluation Himanshu Tiwari Astrologer Blog

"Banking, financial, realty, metal and telecom stocks led the fall," Gupta said in a note. Technically, nifty futures has an immediate support at 8,150 and thereafter a major support level at 8,000 levels. 

On the upside, the immediate resistance is at 8,500 levels, he said. 

The silver lining was that domestic institutions bought as the markets slid with Friday's net buying figure at Rs 1,524 crore Indian stock market astrology prediction