Closing Bell !!...Nifty closes below 4,700 on the last derivative expiry of year 2011

Markets ended lower amidst a volatile trading session on Thursday, weighed down by weak Asian cues early in the day and a depreciating rupee, with index heavyweights Reliance Industries and Infosys leading the fall.

Statistics

While the BSE Sensex finally closed 184 pts or 1.2% lower at 15,544, the Nifty lost 60 pts or 1.3% to close at 4,646. Broad market indices too ended lower as the BSE Mid Cap and Small Cap indices lost 0.4% and 0.7% respectively. Market breadth was negative as the A/D ratio was 0.8:1 on the BSE. NSE cash turnover was Rs.8,926 crs. Vs. Rs.6,218 crs. in the previous session.

Sectoral and Stock movers

Barring the BSE Metals and Healthcare indices, all the sectoral indices ended lower. The top losers were the BSE Oil & Gas, Capital Goods, Realty and Power indices. The top gainers from the BSE 30 were Jindal Steel, SBI, Sterlite Inds and Hindalco Inds. The top losers were Maruti, BHEL, RIL and Tata Power.

Foreign markets

Major European markets like FTSE ( 0.2%) and DAX ( 0.2%) are trading higher at 16:10 IST while CAC is trading marginally lower.

Asian markets like Taiwan (0.3%), Strait Times (0.2%) and Shanghai (0.2%) indices ended higher for the day. However, Hang Seng and Nikkei lost 0.7% and 0.3% respectively.

Way forward

With the Nifty breaking an important support level of 4,700 today, we expect the downtrend to continue.

Source- hdfcsec