Negative global cues weighed on the domestic stock market on Thursday as they traded the day on a negative note. The weakness was also on account of weekly expiry. BSE, Sensex ended at 60,613.70, down by 419.85 points or 0.69 per cent while Nifty50 closed at 18,028.20, down 128.80 points or 0.71 per cent.  

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The markets were weighed down by poor show by auto stocks led by Tata Motors. The Nifty Auto Index was down nearly 2 per cent at the closing time. The other laggards were consumer durables and PSU Banks. The Nifty PSU Bank has witnessed strong rally this week gaining more than 7 percent. Profit booking was seen in these sectors.

Also Read: Tata Motors top Nifty50 loser as auto major posts higher-than-expected loss in Q2; brokerages divided

All 15 Nifty sectoral indices settled in the negative. 

Nifty50 Top Gainers and Losers 

Market LIVE: Sensex, Nifty off day's lows as HDFC Bank, Kotak Bank lead fight back

Titan: Buy| LTP: Rs 2,647.50 | Stop Loss: Rs 2580  

The stock was down 2.60 per cent today and has been in the falling spree over the last 4 trading session. There is a further downside up to Rs 2600 an avoid strategy is suggested in this stock by Jain. 

Jain is Assistant Vice President - Lead Derivative and Technical Research at Centrum Broking.  

(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)