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The Nifty IT index closed 0.75 per cent down at 35377.75.

Downsides seem to be limited at this point in time, as strong support is placed around 17,000 level in the form of 200-day simple moving average.

In less than a week since its inception on March 17, the new sensation has delivered multibagger returns to investors.

“Of the total Rs 4,300 crore proceeds, Rs 3,300 crore will be used to retire 80-85% debt. We The debt component of the company’s balance sheet will be negligible and the plan is to retire that also in a few month’s time. The company has to be debt free as early as possible other than the working capital requirements.”

Listed companies of the Kishore Biyani-led Future group on Saturday informed the exchanges about the meetings of their respective shareholders and creditors on April 20 and 21 to get their approval for the Rs 24,713-crore deal with Reliance Retail.

The exchange already has a successful contract in Castor Seed and the launch of Refined Castor Oil will enhance the castor complex in the futures segment of NCDEX.

Jubilant Pharmova announced that one of its subsidiaries received Abbreviated New Drug Application (ANDA) final approval for Doxepin Hydrochloride Capsules, the generic version of Sinequan, which is used for the treatment of anxiety, depression, and other symptoms of psychoneurosis.

While reiterating that the RBI was closely monitoring crude oil prices, Das said that over the last two years, there was a lot of analytical pressure on the central bank to reverse ultra-loose monetary policy when retail inflation rose past the comfort zone.

A detailed guideline governing the industry classification structure and categorisation of companies listed and traded at NSE and BSE can be accessed on the respective websites of the NSE and BSE, both said in a joint release.

Tuesday is likely to see the levels of 17,250 and 17,335 acting as potential resistance points. The supports will come in at 17,000 and 16,890 levels.