Sensex down over 400 points; Tata Motors top loser

Benchmark indices tanked in the early morning trade on Tuesday with Tata Motors and Asian paints leading the fall.The S&P BSE Sensex was at day's low with over 400 points fall, while the broader Nifty50 index fell below its crucial 8,150 level.   Stock Market Astrology

At 11:47 am, the 30-share index was trading at 26,406, down 412 points, while the broad-based 50-share index was quoting 8,145, down 150 points. In broader markets, Midcap and Small cap indices underperformed benchmark indices. BSE Midcap fell 4.19% while small cap was down 4.98%.
BSE Auto was the top sectoral loser with a 4.6% fall followed by realty sector down 3.7% and consumer durables 3.6% post disappointing IIP numbers.   Intraday Trading Tips


Nifty PSU was trading in green with 3.36% rise while banking indices were also marginally up in early morning trade.“Nifty will trade between 8100-8700 for next one month. The impact of demonetization will be very negative for many Mid-cap and small cap stocks. Consumer discretionary stocks will correct more than expected,” said AK Prabhakar, Head of Research at IDBI Capital in a technical note.   Commodity Trading Tips


“Nifty50 corrected to 8002 level after hitting 8968, so if we fail to cross 8750 then trend remains at 7600 or 7500,” he added.The market was closed on Monday on account of Guru Nanak Jayanti, hence companies that posted earnings during the long weekend will be in focus in today’s session.
Meanwhile, Rupee fell 0.58% to Rs 67.64/$, lowest level since June 30.  
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