By Bharti Navlani
MUMBAI (Commodity Online): Indian stock markets declined for the fifth consecutive day after witnessing a high volatile day. Nifty ended at new 28-month low owing to intense sudden selling in last hour of trade with major selling pressure in heavyweights like Reliance, Larsen & Toubro and Bharti Airtel.
It was yet another roller-coaster session for the Indian stock markets. The S&P CNX today gave gap up open at 4635 and from there Nifty touched the low of 4558. However, market recovered after European markets opened and Nifty made high of 4614 but that was not enough for the day that sudden selling pressure knocked in the last hour of trade which dragged Nifty again to the fresh day's low of 4531 and Nifty settled near low at 4544 down by 69 points.
The European markets are trading in positive zone. The FTSE index is trading flat, DAX index is up by 54 points and CAC index is up by 34 points.
The market breadth, indicating the health of the market was negative. On NSE, 365 shares advanced while 1095 shares declined. Total of 46 shares remained unchanged.
Out of 50-share S&P CNX Nifty pack, 10 scrips advanced while 40 scrips declined. Ranbaxy was up by 3.24%, ONGC was up by 2.45% and HDFC Bank was up by 2.22% were the top gainers from the Nifty pack.
JP Associates was down by 8.15% , Hero Motor Corporation was down by 6.05% and LT was down by 6.03% were the top losers from the Nifty pack.
Get sure shot capital market calls only on www.makemystocks.com. Call 079-40275050 or mail to info@commodityonline.com
Courtesy: www.makemystocks.com
