The markets opened on a flat note and moved higher touching the highest point by the mid morning trade but corrected sharply thereafter and slipped into the negative zone by the afternoon session. The markets continued to trade lower and ended the day on a weak note. All the Sectoral indices ended in the red with IT & Realty being the major losers while PSU & FMCG saw minimal losses. Among the Sensex stocks Hero Honda (1.80%), HUL (1.65%) were amongst the gainers while DLF (4.69%), TCS (3.43%) and Jaiprakash Asso. (3.13%) were the major losers. The Sensex lost 296 points or 1.53% to close at 19,091 while Nifty lost 95 points or 1.64% to close at 5,729.
Total traded turnover stood at Rs 2,00,853 cr.In equities FIIs were net sellers (Rs 982 cr) while DIIs were net buyers (Rs 661 cr) respectively. On the derivatives side, FIIs were net sellers in Index Futures (Rs 56 cr), Stock Futures (Rs 183 cr) while they were net buyers in Index Options (Rs 926 cr) .
The US markets ended negative as stocks corrected after S & P revised its outlook on the U S credit rating downward to negative and concerns China's monetary tightening may slower the pace of global economic growth. The Dow Jones lost 140 points or 1.14% to close at 12,202 while NASDAQ lost 29 points or 1.06% to close at 2,735.
The Asian markets are trading lower. Nikkei is trading lower by 1.49% while Hang Seng is currently trading lower by 1.53%.
The markets closed on a weak note. FIIs were net sellers in the cash segment while DIIs bought. The markets may open on a negative note tracking weak global cues, after ratings agency Standard & Poor's lowered its outlook on U.S. Adopt a cautious approach.
The trend deciding level for the day is 5785; If NIFTY trades above this level then we may witness a further rally up to 5815-5843-5860 levels. However, if NIFTY spot trades below 5785 levels then we may see some profit booking to initiate in market, it may correct up to 5700-5665-5640.
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