Equity benchmarks dropped for the third consecutive session on Thursday, dragged down by banking, realty, auto, FMCG, PSU oil & gas and cement companies' shares. The NSE Nifty settled below the 6050 level. Vijay Bhambwani of bsplindia.com sees the first immediate support for Nifty at 6030 and then 5960.
Rate sensitives remained on sellers' radar on the back of news that the RBI may hike key rates in its next policy meet. Bharat Shah, Director of ASK Investment Managers Private Limited said banking business would by and large hold up but there could be some amount of impact due to the interest rate changes which have occurred in the last few weeks. "I donDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
