Duty Hike on Petrol, Diesel to Fetch Rs 10,500 cr

ECONOMY ANALYSIS

• Sensex tanks 322 pts, Nifty ends at 8341; midcaps & metals bleed
• Cairn, ONGC slump; Macquarie cuts target on oil price fall
• SAT to hear DLF plea against Sebi order on Wednesday
• Co registrations decline by half in Apr-Aug 2014
• Duty hike on petrol, diesel to fetch Rs 10,500 cr
• Rs 11,488 cr utilised under NHRM till Oct: Govt

MARKET ANALYSIS

• The S&P BSE Sensex plunged as much as 356 points in trade on Tuesday, after a sudden sell-off in Chinese markets led to a correction in other Asian markets, including India.
• The Nifty slipped below its crucial psychological support level 8,350 and was trading at its November 20 lows. The S&P BSE Sensex also slipped below its crucial support level of 28000 in trade today, led by losses in ONGC, L&T, ITC and ICICI Bank.
• The S&P BSE Sensex finally closed at 27,797.01; down 322.39 points or 1.15 per cent. It hit a low of 27,763.82 and a high of 28,157.53 in trade today.
• The 50-share Nifty index ended at 8,340.70, down 97.55 points or 1.16 per cent. It hit a low of 8330.50 and a high of 8444.50 in trade today. 
• The S&P BSE Midcap Index closed 1.57 per cent lower and the S&P BSE Smallcap Index declined 1.59 per cent.
• Sesa Sterlite (5.1 per cent), Bharti Airtel (4.2 per cent), Tata Power (4.1 per cent), ONGC (4.4 per cent) and NTPC (3.5 per cent) were among the major Nifty losers.