Unabated selling continues on Thursday as the Nifty extended its losing streak to fifth straight trading session. The key benchmark indices declined for the third straight day on weak global stocks. The barometer index BSE Sensex hit seven-month closing low and the 50-unit S&P CNX Nifty tumbled to near eight-month closing low. Auto, power and the pharma stocks saw some buying, however, the telecom, IT and the realty stocks continued to get hammered. Today's fall was seen despite food inflation showing a considerable decline as compared to the previous week. Finally markets ended the volatile session on a lower note.
The BSE Sensex closed down by 129.73 points or 0.74% at 17,463.04 and the NSE Nifty declined by 27.75 points or 0.53% at 5,225.80.
The BSE Mid Cap was down by 7.05 points or 0.11% at 6,292.18 and the BSE Small Cap was down by 66.17 points or 0.86% at 7,585.65.
Major laggards in the Sensex were SBI (3.64%), Bharti Airtel (2.80%), Sterlite Industries (2.53%), BHEL (2.48%), Infosys (2.27%) and HDFC (2.01%).
Top gainers from the Sensex were Reliance Infrastructure (9.45%), Jaiprakash Associates (5.25%), Tata Motors (2.37%), Reliance Communication (1.79%), DLF (1.45%) and ITC (1.20%).
Overall market breadth was mixed as 1,032 stocks were advancing while 1,811 stocks declined and 125 remained unchanged on BSE.
FOR TODAY: EU and US markets traded flat to negative tone yesterday. Asian markets were trading today morning mixed. SGX Nifty is trading at 5232, 7 points up suggests that Nifty may open flat to negative tone. If and only if, Nifty does not break 5191 level, and trade with volume above 5210, upmove may be seen till 5277 and/or 5300 level. On breaching 5191 level on the downside, Nifty target will be 5174 (on intraday basis) and 5076.
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