Nifty ends below 4300 ahead of F&O expiry

27 August 2008

Markets have shown a sharp cut in trade during the later part of the day after consolidating with marginal losses for the entire day. Nifty closed below the 4300 mark. All BSE sectoral indices are ended in red. Heavy selling pressure was seen in realty and banking stocks. Power, capital goods, oil & gas and FMCG stocks also witnessed selling pressure.

The markets have traded with muted volumes ahead of the F&O expiry day. The BSE midcap and smallcap indices are closed down nearly 1%.

It seems that incremental flows at FII desk was marginally negative. Activity also muted at domestic institutional desk. Domestic punters are playing on select small and midcap stocks.

Sensex was down 185.43 points or 1.28% at 14296.79, and the Nifty was down 45.40 points or 1.05% at 4292.10.

Markets breadth was negative, about 1123 shares have advanced, 1711 shares declined, and 334 shares are unchanged.

The BSE realty index was down 3.50% or 175.65 points at 4837. Stocks like Indiabulls Real, DLF, Ansal Propertie, Unitech and HDIL slipped 2.1- 8.6%.