Sensex snaps 8-session rally, ends 416 points lower; Nifty below 18,700; Paytm jumps 8%, Adani Transmission tanks 3%

Bears remained at the helm throughout the day as the benchmark index couldn’t pare the morning loss. However, the correction was limited to 0.62% by the end of the session. Over the near term, sentiment is likely to remain sideways, with 18,500-18,800 to be the crucial range. A decisive breakout from either band may induce a clean directional move in the market.