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The S&P BSE Sensex plunged over 200 points while Nifty saw a decline of nearly 100 points in morning trade on Wednesday tracking weak handover from Wall Street.
Nifty Bank saw a cut of over 300 points and was now trading near its psychological support of 25,000. Important Pivot level, which will act as crucial support for the index, is placed at 25,252.13, followed by 25,120.67. On the upside, key resistance levels are placed at 25,619.33, followed by 25,855.07.
The fall in NiftyBank was led by losses in PNB, Canara Bank, ICICI Bank, Yes Bank, Federal Bank, and State Bank of India.
On the sectoral front, BSE Metal index slipped 1.4 percent, followed by PSU Index which was down 1.3 percent, and S&P BSE Bankex dropped 1.2 percent.
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