Nifty Ends a Tad Below 11,500
The late selling pulled Nifty50 below its crucial support of 11,500, dragged by Reliance Industries, ICICI Bank, ITC, IOC and Tata Motors which fell 2-4 percent.
The BSE Sensex closed at 38,276.63, down 323.71 points and Nifty50 fell 100.35 points to 11,497.90.
However, Infosys, HUL, L&T, Wipro, ONGC and Titan Company bucked the trend, rising 1-2 percent.
The broader markets also caught in bear trap. The Nifty Midcap index lost 1.2 percent and Smallcap index fell 1 percent.
All sectoral indices closed in the red barring IT. Nifty Bank, Metal and Realty were prominent losers, falling over a percent each.