Sensex ends 163 pts down on EU fears; L&T, BHEL up 3.4%
25 Nov 2011
The Sensex ended Friday's session with a loss of 1%, dragged down by oil & gas, technology, auto and metals sectors.
The initial hour and last hour of trade was quite dramatic, market dropping nearly 200 points on weak global cues, leading to a volatile day of trade.
The 30-share BSE Sensex fell 163.06 points, to close at 15,695.43. Meanwhile, the 50-share NSE Nifty managed to get back above the 4700 in late trade, before closing down 46.40 points at 4,710.05.
According to Sudarshan Sukhani of technicaltrends.com, 4,700 is not a significant technical level right now.
He feels until and unless the Nifty doesn't close above 4,800 consistently, one can't say that we have started a short-term uptrend.
The market was down for 10 out of the last 12 trading sessions, weighed down by endless eurozone fears, sharp depreciation in the Indian rupee that resulted outflow of foreign money. The Sensex shed nearly 1900 points in 12 days while for the week - both benchmarks fell 4% each. In the week, the Nifty fell to 2-year low of 4,639.10.
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