The Indian markets snapped their three-day gains to end in the red on Friday’s session. The Sensex closed around 200 points lower while the broader market Nifty50 held on to the sentimental level of 17000 at the close. The 50 share index settled 0.4 per cent or 68 points lower from the Thursday closing at 17,003.
Sectorally, buying was visible only in Nifty IT while Nifty Bank, Nifty FMCG, Nifty Financial Services, Nifty Auto and Nifty Realty stocks witnessed selling pressure on the last trading day of the week.
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In a worst-case scenario, we expect the index to settle down somewhere near to 16100 which is the placement of 200 DSMA, Mehul Kothari, AVP – Technical Research at AnandRathi has told Zee Business web team.
In an interview with Zee Businesss’ Editor Kshitij Anand, Kothari said, “The closing for the last session of the week was a bit muted but the price action was…