The markets have slipped sharply lower in the last one hour of the trade, after seeing choppy trade. The Sensex closed below the November closing low of 8451 and the Nifty broke crucial support level of 2650. All sectoral indices ended in red; especially shares of FMCG, telecom, technology, banking, oil & gas exploration and capital goods companies were draggers.
FIIs were the sellers in today's trade (FIIs net sellers to the tune of Rs 741.33 crore while DIIs net bought Rs 523.57 crore in equities in today's trade (provisional figures)), which also impacted the Indian Rupee that saw new low of 52 a dollar. Market breadth remained weak throughout the session due to downtrend in broader indices; about 1022 shares advanced while 1855 shares declined. Nearly 170 shares remained unchanged.
This was the third day in a row that markets closed on a weak note. The 30-share BSE Sensex hit an intraday low of 8,390.21, before closing the day at 8,427.29, down 2.09% or 179.79 points, a lowest since 10 November 2005 closing of 8308.93. It is nearly 730 points away from October 2800 lows of 7697.39.
Source: Moneycontrol
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