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The appearance of a downward gap in today’s trade ensures a shift of range on the lower side. Hence, minor recovery might be there. However, levels of 17,300 could turn out as near term resistance. Nifty broke below the recent low, however, sustenance below 17,000 is essential to unlocking further downside till 16,630 zone.

Kuantum Papers, Metropolis Healthcare, Globus Spirits and HLE Glasscoat shed 13-16 per cent each. Internet companies saw another round of knockout

“With the economy rebounding, we are seeing green shoots coming up for Q4 as the GDP looks stronger for the coming years. We expect people to get more aggressive in terms of riding on to the new wave that is going to come up....There is definitely no change in business strategy. Whatever we have committed is going to continue whether it is ROE commitments that we have made on 20% ROE, OCF and OCF growth as well as the OCF growth year on year. ”

The Nikkei share average lost 2.23% to close at 27,079.59, posting its biggest daily percentage drop since Jan. 27 and touching below the 27,000 level for the first time since Jan. 31. The broader Topix lost 1.63% to 1,930.65.

The revenue from operations for the quarter came in at Rs 5,784.74 crore, up 56.48 crore compared to Rs 3,696.61 crore in the year-ago quarter.

The S&P/ASX 200 index rose 0.4% to 7,243.90 in its best session since Feb. 10. The benchmark ended 1% lower on Friday.

The blue-chip CSI300 index fell 1.1%, to 4,551.69, while the Shanghai Composite Index lost 1% to 3,428.88.

The Europe-wide STOXX 600 index fell 2% by 0808 GMT - hitting its lowest since Jan. 25. All the major sub-sectors were in the red, with travel & leisure, banking and automakers falling the most with losses of over 3%.

“We will see how the market you know reacts to it and what sort of valuation just got embedded. We are still awaited and this is a sector where there has been reasonable interest given the level of penetration. But for some of the private sector players, the valuations have actually got very stretched.”

Darshan Patel is the founder of Vini Cosmetics, the owner of, among other brands, Fogg that became the number one deodorant in sales within three years of launch. The question “kya chal raha hai?” was part of a viral ad campaign for Fogg.