Photo: iStock

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	The benchmark indices fell over 200 points amid sell off on the first day of the new year led by losses in banks, IT and auto stocks.<br />
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	Meanwhile, The Insolvency and Bankrutpcy Code (Amendment) Bill, 2017, that debars wilful defaulters and existing promoters from bidding for stressed assets of companies undergoing insolvency proceedings, was passed in the Lok Sabha on Friday.</div>
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	Auto stocks were in focus as auto firms start disclosing monthly sales numbers for December 2017.&nbsp;</div>
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	Meanwhile, Overseas investors have pulled out close to Rs 5,900 crore from domestic equities this month, with widening fiscal deficit and higher crude prices making market participants cautious on macro-economic front. In spite of December performance, foreign portfolio investors (FPIs) ended the year with a net inflow of over Rs 51,000 crore.</div>

Sensex ends 244 pts lower, Nifty below 10,450; banks, IT, auto fall

Business Standard

Sensex ends 244 pts lower, Nifty below 10,450; banks, IT, auto fall | News on Markets - Business Standard

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	<strong>10,426 a key support level for Nifty today: Angel Broking</strong></div>
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	The concluding week of the year traded with a positive bias and eventually wrapped up the activity almost at record close. This has been a remarkable year for Indian markets; in fact, we should put it as, for the equity markets across the globe. The Nifty clocked whopping gains of ~29% in the calendar year 2017 and probably we can count on the fingers of our one hand such spectacular years in the history of Indian markets. <a href="http://www.business-standard.com/article/markets/10-426-a-key-support-for-nifty-today-angel-broking-118010100097_1.html?1514777766"><strong>READ MORE&nbsp;</strong></a></div>

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	<b>Top developments to track</b></div>
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	1) India Lower House Approves Changes to Insolvency Code</div>
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	2) Indian Govt injects equity infusion into 6 major Banks (BoI, Dena bank, CBoI, Bank</div>
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	of Maharastra and UCO bank)</div>
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	3) DoT to issue notice to 5 telecos to recover Rs. 2578 crore.</div>
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	4) Infosys : To divest investment in ANSR Consulting for $1m<br />
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	<em><strong>Source: Geojit Financial Services</strong></em></div>

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	<strong>Nifty outlook by Prabhudas Lilladher</strong></div>
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	The year is likely to open with a positive start having Nifty at all time high levels. The IT Index is all set for a takeoff &amp; likely to do well in days to come. Nifty at 10530 with RSI above 63 levels implies scope for further up move. The support for the week is seen at 10400 while resistance is seen at 10650. <a href="http://www.business-standard.com/article/markets/top-technical-calls-for-today-s-trade-buy-capital-first-hdil-118010100081_1.html"><strong>READ MORE</strong></a></div>

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	<strong>Top stock pics by Devang Shah</strong></div>
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	AXIS BANK-BUY</div>
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	CLOSE &ndash; Rs- 560</div>
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	TARGET &ndash; Rs 575-585</div>
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	<a href="http://www.business-standard.com/article/markets/nifty-outlook-and-top-trading-calls-by-devang-shah-118010100084_1.html"><strong>CLICK HERE FOR MORE</strong></a></div>

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	<strong>Nifty outlook by Devang Shah</strong></div>
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	Short-term outlook for the market remains positive till Nifty trades above 10,300 levels and expecting target of 10,700-10,850 levels in short term. Medium term outlook for the market remains positive till Nifty trades above 8,968 levels and expecting targets in the range of 12,000-12,200 levels in medium term. <a href="http://www.business-standard.com/article/markets/nifty-outlook-and-top-trading-calls-by-devang-shah-118010100084_1.html"><strong>READ MORE</strong></a></div>

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	<strong>Technical calls</strong></div>
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	BUY HDIL &nbsp;</div>
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	CMP: Rs 65.55 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</div>
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	TARGET: Rs 73 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</div>
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	STOP LOSS: Rs 60</div>
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	<a href="http://www.business-standard.com/article/markets/top-technical-calls-for-today-s-trade-buy-capital-first-hdil-118010100081_1.html"><strong>CLICK HERE FOR DETAILS</strong></a></div>

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	<strong>Singapore Nifty</strong></div>
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	At 8:50 am, the S&amp;P BSE Sensex was trading at 10,539, down 19 points or 0.19%, indicating lower opening for the markets.&nbsp;</div>

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<br />
Welcome to Business Standard&#39;s market liveblog.&nbsp;

Sensex ends 244 pts lower, Nifty below 10,450; banks, IT, auto fall

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