Markets end lower for the second consecutive session

13 Aug 2008 | 17:30



Markets
end lower for the second consecutive session Markets opened lower on
Wednesday morning and tried to recover during the day but the recovery
was not sustainable.



Markets
end lower for the second consecutive session Markets opened lower on
Wednesday morning and tried to recover during the day but the recovery
was not sustainable. Post noon, the markets once again slipped into the
red and closed the day in the negative. Global cues were weak due to
renewed concerns in the US financial space.

While the Sensex closed down 119 points or 0.78% at 15,093, the Nifty lost
23.2
points or 0.51% at 4529. The broad market indices ended mixed. While
the BSE Midcap ended 0.1% lower, the Smallcap index gained 0.13%. The
market breath was flat, as A/D ratio was about 0.9:1 on the BSE.
Turnover
on the NSE for Wednesday was Rs.12,052.24crs. Vs. Rs.13,926.59 cr
yesterday.

Barring
the BSE IT, Healthcare and FMCG indices all the other BSE Sectoral
indices ended in the red. The biggest losers were the Capital Goods,
Realty and Bankex indices that lost 1%, 1.3% and 2.23% respectively.
Gainers from the BSE-30 were Sterlite Inds, Infosys, TCS, Satyam and
NTPC. The losers from the Sensex pack included ICICI Bank, HDFC Bank,
DLF, Rel Infra and HDFC.

The markets seem to be consolidating at
current levels. Important supports to watch on the Nifty are at
4450-4430, as a close below these levels could lead to a testing of the
4350 levels. On the upside, resistance is at 4570-4600.

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