Today’s market trend was choppy as global markets exhibited weakness and U.S. index futures trended lower in the middle of fresh concern about the health of the U.S. financial sector. Though economic reports from some part of the world were fairly positive, investors remained highly unwilling to build up positions today. There were a few rallies because of the selective stocks and made the situation to sell during every rise.
The Sensex, which opened nearly 70 points down and dropped down to 15,392.68 in early trade, rose to 15,628.10 a few min before noon, but failed to sustain at higher levels and fell into the red again. The barometer eventually ended the day at 15,467.46 with a sharp loss of 83.73 points or 0.54%.The Nifty index of the National Stock Exchange (NSE) closed lower by 17 points or 0.37% at 4608.35. In intra-day trading, the Nifty touched a low of 4576.60 and high of 4650.45.Information Technology (IT) stocks had a fairly good session thanks to a weak rupee. Select Pharma, FMCG and oil stocks moved up sharply. Realty, auto and capital goods stocks failed to hold gains and ended with notable losses. Power, bank and metal stocks were mostly subdued today.
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