Markets recover from the lows to end with modest losses The markets opened lower on Tuesday morning on the back of weak global cues.

19 Aug 2008 | 17:36

Markets recover from the lows to end with modest losses The markets opened lower on Tuesday morning on the back of weak global cues. Markets recover from the lows to end with modest losses The markets opened lower on Tuesday morning on the back of weak global cues. The markets then slipped further lower during the day before finally recovering in the afternoon session. While the Sensex closed down 101.93 points or 0.7% at 14,543.73, the Nifty lost 24.8 points or 0.56% at 4368.25. The broad market indices also ended lower as the BSE Midcap and Smallcap lost 0.27% and 0.34% respectively. The market breadth was weak, as A/D ratio was about 1:1.4 on the BSE. Turnover on the NSE for Tuesday was Rs.8935 crs. Vs. Rs.9357crs. on Monday. Barring the BSE Power and Bankex indices, all the BSE Sectoral Indices ended in the red. The biggest losers were the Consumer Durables, IT and Auto indices that lost 1.17%, 0.87% and 0.86% respectively. Gainers from the BSE-30 were Rel Infra, Hindalco, ICICI Bank, HUL and HDFC Bank. The losers from the Sensex pack included ACC, Maruti Suzuki, HDFC, Satyam and Rel Comm. With the markets recovering from the lows of the day, it seems the bulls are not willing to give up. Traders need to watch if the Nifty can sustain above the 4400 levels for further upsides to happen. Immediate supports for the Nifty are at 4310-4300.

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