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Indian stocks markets fell sharply today amid broad losses to end lower for the third day after disappointing earnings from some companies. Caution also weighed ahead of US Federal Reserve meet later this week.



The Sensex ended 165 points lower at 22,466 while Nifty fell 46 points to 6,715. According to analyst Sanjeev Bhasin, Indian markets are poised at crucial levels. He says Nifty has support at 6,710 and if its breaks this level, the next support level exists at 6575.

 

Except consumer durables, all the other sectoral sub-indices on the BSE were in the negative territory.
Metals, banking and FMGC sub-indices saw strong selling pressure. JSPL 7.5 per cent to Rs. 253 to be the biggest loser among the Nifty stocks, after its Q4 net profit came in below estimates at Rs. 402 crore vs estimates of Rs. 618 crore.

Another metal stock Tata Steel also fell nearly 4.8 per cent to Rs. 405. Sentiment in metal stocks was also dented after reports said that the Supreme Court could impose an interim ban on some iron ore mine leases in Odisha.