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Trade Setup for Thursday: Top 15 things to know before Opening Bell

The key support level for Nifty is placed at 11,103.27, followed by 10,955.53. If the index moves up, key resistance levels to watch out for are 11,377.67 and 11,504.33.

March 04, 2020 / 09:21 PM IST

With the coronavirus threat still looming over global markets, benchmark indices too logged in losses as Sensex ended 214 points or 0.55 percent lower at 38,409.48 while Nifty ended at 11,251 down 52 points.

Midcaps and smallcaps suffered more as their sectoral indices on BSE plunged 2.53 percent and 2.83 percent, respectively.

"Fresh virus cases reported in India overshadowed monetary easing by the US Fed. Despite mixed global cues, the domestic market took a hit fuelled by weakness in metals, banks and auto stocks," said Vinod Nair, Head of Research, Geojit Financial Servies.

Nair added that the short-term tremors due to the virus could be felt across the globe including Indian indices but for the long-term, the impact looks limited.