Sensex falls 387 points on US worries; Nifty holds 5200
05 Aug 2011
Visible recovery in the last couple of hours of trade today saved the day for the Indian equity indices. The Nifty, which was at a 52-week low, managed to end the day at 5,211, down 120.55 points, led by bottom fishing and technical pullback.
Some recovery was seen in the European markets and US index futures as well with investors and trader betting on US payroll and employment numbers to be declared today, which could be better-than-expectations.
The 30-share BSE Sensex, which shed more than 700 points at one point of time, recovered to close at 17,336, down 357 points.
At 14:45 hours IST: Sell-off slows down; Nifty gets back above 5200
Global markets say a gradual recovery after a big sell-off that followed due to a crash in the US equity markets. The Nifty tip-toed above the 5200 level but could not recover more.
Dow Jones and Nasdaq futures were down just 0.5% each. Investors as well as traders started buying at lower levels on hopes that the US market may see recovery today on payroll and employment numbers.
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