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Crash and recovery
Updated On: 31 August, 2015 08:02 AM IST | | Alex K Mathews
<p>It was the biggest dip in seven years and third biggest ever fall in the BSE benchmark index</p>
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The last week saw domestic markets under pressure because of Chinese concerns. Sensex had its biggest crash in seven years and third biggest ever fall in the BSE benchmark index. But the extreme oversold conditions and the small recovery in the global markets supported the Indian markets. Nifty may face resistance at 8050 and 8230 and having support at 7790 and 7600.
The government sold its 10 per cent stake in Indian Oil Corporation as a part of its disinvestment programme. The government was looking to sell up to 242.79 million shares through the issue where it holds 68.57 per cent stake in the company.
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