Markets opened with gap down as expected.Fears that a planned rescue of Greece could stall and extend the financial crisis to other euro zone countries hit European markets on Wednesday as investors worried that Athens may default on its debt.Greek and European Commission officials have said the first tranche of aid will be paid before May 19, when Athens will need to refinance a maturing 8.5 billion euro bond.But markets are not convinced that governments will have the political will to reach and sustain an agreement on the aid, especially in Germany, where public opinion is strongly against helping Greece and where Chancellor Angela Merkel's party risks defeat in a regional election on May 9.
IMF/ECB TALKS IN GERMANY.So the fear factor is still on.
Technically speaking now Nifty is in bearish mode below 5296.
Nifty closed today with 88.95 points loss at 5219.4 after making low of 5202.45 and Sensex closed at 17405.35 with 285.27 points loss.
All BSE Sectoral indices closed negative.Realty Index was the top loser with 3.61%
Sunpharma was the top gainer among the Nifty50 stocks, gained 1.08% to close at 1613.20 while Steel Authority was the top loser with 4.57% and closed at 217.15.
Advance/Decline ratio was poor in the ratio of 1:5.26 as 209 stocks gained and 1099 stocks declined today on NSE.
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