19 May 2010 Closing Market Updates 15:31
Indian markets tanked on sell off in European markets and global turmoil.On global front, European stocks slid after Germany introduced a ban on making some bets against government bonds and financial institutions, sparking concern that regulation will increase. In addition to the fear factor, U.S. index futures were also trading down by nearly 1%.
Nifty broke important support of 4950 and closed 144.80 points down at 4921.40 after making a low of 4908.15.Sensex closed at 16415.73, losing 460.03 points.
But speaking technically, we feel that market will bounce back from 4870 levels.So if the investors are planning to enter into the markets, consider this as a good opportunity.
All the BSE Sectoral Indices closed into negative.Metal index was the top loser by 4.51%.
Herohonda was the top gainer in Nifty50 stocks, gained 1.09% and closed at 1857 and Idea was the top loser by 7.91% and closed at 52.40.
Market breadth was negative as 167 stocks lost and 1146 stocks gained today on NSE.
Global Markets :
Hang Seng : -365.96
Nikkei : -55.80
FTSE : -127.61
DAX : -168.89
CAC : -101.16
Dow Jones Futures : -97.00
Nasdaq : -21.00
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