Markets going dizzy ahead of Coal India IPO

The Indian market witnessed continued selling pressure throughout the day. The Sensex closed the day down by 372.59 pts or 1.82% to close at 20125 pts, while the Nifty was down by 115 pts or 1.86% to close at 6062 pts. The small cap and mid cap fell less comparatively being down by 1.22% and 0.74%. The IT index was the biggest laggard with Infosys and TCS contributing to the fall. Infosys declared a better than expected results and also declared a interim dividend of Rs.10 and a special dividend of Rs.30, but the stock ended the day down 3.31% at Rs.3079. The Auto and Bankex index were the other 2 losers which contributed to the fall being down by 2% each. The European market have opened on a positive note and are trading flat, while the dollar has continued to weaken for fourth consecutive day on the Fed stimulus bet. The breadth of the market has turned negative with 976 advances and 2023 declines.