The Nifty cracked 8500 mark to end at 8462.35, down 63.25 points or 0.74 percent. About 1016 shares advanced, 1876 shares declined, and 135 shares were unchanged.
What worried Indian investors was devaluation of Chinese currency. The People’s Bank of China allowed the yuan to depreciate almost 2 percent against the US dollar to levels last seen three years ago, sending a shock through currency markets.
Tata Steel too fell 5 percent even though it posted better-than-expected Q1 earnings….Hindalco, Tata Motors and Coal India were other laggards in the Sensex.
Stock Prediction tomorrow:
BUY Ajanta Pharma call with a target of Rs 1750 and a stop loss of Rs 1679.
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