Market ends with deep cut: Nifty closes below 5,100

24 January 2008

It was an extremely volatile session for markets as they closed in deep red after opening on a robust note. Sensex was down nearly 1000 points from the highs of the day and Nifty down 300 points. The fall came in despite some encouaging cues from Asia and Europe. Asia closed higher and Europe opened in green.

Metal, power and realty stocks have taken it on their chin as the ended deep in red. The breadth was negative as the midcap and smallcap stocks were reeling under pressure. NSE Advance:Decline ratio was at 1:5. Select IT, bank and FMCG stocks have provided support at lower levels.

Sensex closed down 372.33 points or 2.12% at 17221.74, and the Nifty down 169.95 points or 3.27% at 5033.45.

About 463 shares have advanced, 2492 shares declined, and 28 shares are unchanged.

The BSE Midcap Index ended at 7,537.90 down over 3%.

The BSE Smallcap Index ended at 10,013.96 down 4%.