The Indian indices close the session on a weak note on the back of sudden sell-off in the index heavyweights and negative global markets.
The session was in the favour of bears. The Indian markets tumbled in the last leg of trade owing to sudden sell-off in the index heavyweights. The sentiments were dampened after media reports stated that the equity markets in South Korean plummeted in the last few minutes of trade following the biggest ever sale by overseas investors on the day of options expiry. The European markets turned negative, which dragged the domestic markets further.gains and slipped into the negative territory in morning session. The Sensex remained in narrow range, trading in the red for rest of the morning session. The index started to decline further in the afternoon session. In last hour of trade, sudden sell-off in index heavyweights like Reliance Industries, Tata Consultancy Services, Larsen & Toubro and ICICI Bank and weak European markets led the Sensex to hit the day’s low of 20544.At the closing bell, the Sensex closed at 20589, lower by 287 points. The Nifty ended at 6194, down by 81 points.
The Nifty closed below the psychologically important levels of 6200, dragged down by oil & gas, technology, realty, financial, capital goods, telecom and FMCG companies' shares, ahead of Group of 20 (G-20) meet.
India's food inflation softened to 12.3% for the week ended October 30, 2010 as compared to 12.85% seen in the previous week.
DLF - the largest real estate developer - dropped over 4% after posting disappointing Q2 results. Anil Dhirubhai Ambani Group (ADAG) firm Reliance Power rose over 8% on buzz that the government will soon allocate gas to the company.
The Sensex began the session 55 points higher at 20930. The Sensex hit the day’s high of 20937 in its initial trade. The index started to trim
Sorry, I am facing some problem to post in the blog. Will try it later again
