“We took a leaf from the way Disney runs their theme park. They made it experiential. We have to make movie going experiential, we cannot be utilitarian and that is what we are working on.â€
The Nifty Pharma index closed 1.44 per cent down at 14177.35.
The losses were led by some of the most popular names among retail investors such as IRCTC, Deepak Nitrite, Navin Fluorine, Balrampur Chini and Dixon Technologies. The sudden selling was triggered as retail investors rushed for the door in anticipation of further losses in the market in the coming days.
IRCTC continued its freefall after the F&O ban, whereas Chemical stocks bled amidst the expectation of a flop shop in Q2. TCI led the gainers, whereas Vodafone Idea was on a roll after the company announced to opt for a moratorium for the dues.
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The 14-day relative strength index (RSI) has slipped from an overbought zone (70) and Stochastic suggests negative crossover. Analysts said the index has support at 18,200 level while they see 18,600 as a key hurdle for the index.
The Nifty50 index closed 0.8 per cent lower at 18,266.60 points, while the BSE-Sensex ended at 61,259.96 points, down 0.7 per cent.
The Nifty Auto index closed 1.15 per cent down at 11493.3.
In a note, UBS said India, along with Taiwan and Australia, look unattractive, especially on the valuations front, even as it is positive on ASEAN.
As of 30-Sep-2021, promoters held 0.0 per cent stake in the company, while FIIs held 23.73 per cent and domestic institutional investors had 13.18 per cent.
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