Nifty closes below 4400 on high volumes; heavyweights drag
22 Jul 2009
The benchmark indices closed sharply lower and continued the downtrend for the second consecutive day. The markets crossed the total turnover of Rs 1 lakh crore as institutions were sellers in today's trade. They booked profits at higher levels.
Financial, technology, telecom, capital goods, metal and select oil & gas stocks witnessed selling pressure. The Nifty closed at 4398, down 66 points and the Sensex fell 221 points, to 14,840 (provisional figures).
Mkts slide further; RIL, Bharti, SAIL, BHEL, TCS, L&T drag
At 14:53 hours IST, selling in financial, technology, capital goods, telecom, select power and oil & gas stocks was putting pressure on the benchmark indices. The Nifty was struggling at the 4400 mark as institutions were the sellers. The broader indices were also quiet in trade.
The Nifty was down 71 points, to 4,397 and the Sensex lost 212 points, to 14,850. On the global front, European markets were down 0.3-0.8% and US futures fell 0.5-0.8%.
The market breadth was negative; about 553 shares advanced while 685 shares declined on the NSE.
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