GDP data made investors nervous-Nifty ended below 6000, Sensex below 20000 mark.

Market tanked on weak global markets and GDP outcome. Nifty dropped 139.60 points to end at 5984.45 and Sensex collapsed 453.09 points and ended at 19762.31.

Market sentiments got hurt by declines in lenders such as HDFC Bank Ltd as hopes the Reserve Bank of India would cut interest rates next month were dashed after the economy grew in line with forecasts in the March quarter. Market is preparing to digest this possibility also.

    All sectoral indices on NSE closed into red exception was CNX IT. CNX Realty was the top loser by 3.09% followed by CNX PSU Bank,  CNX Finance, CNX Energy, BankNifty, CNX Metal, CNX Media, CNX Commodities, CNX FMCG, CNX PSE and CNX Infra which were down more than 2%. In Nifty50 stocks, Ultracemco was the top loser by 5.18%, ended at 1885 whereas Infy was the top gainer by 2.67% and ended at 2405. Unitech was the turnover topper by traded quantity and Infy by the traded value on NSE today. Advance/Decline ratio was negative to 3.57 : 1 as 721 stocks declined and 202 gained on NSE today.

Nifty Outlook :

Nifty future didn't move beyond the level of 6140 which was necessary for a bull run. Nifty fut. ended below the important level of 6110 and another closing below this level will break short term upward-trend and may test 5890 level in coming days.

Immediate Support : 5950 / 5890
Immediate Resistance : 6060 / 6130