Markets End on a Negative Note

Markets ended a range bound session in red on back of selling pressure in realty shares, trading was confined to narrow range of 80 points on Nifty. Investors throughout Asia were cautious over the outcome of Group of 20 meeting which has begun in South Korea today. Currency market tensions loomed; U.S. Treasury Secretary, Timothy Geithner said that G20 nations should avoid making currency policies which would aim at countries garnering a competitive edge. Stocks in Europe were at the brink of breaking their two day winning streak, positive results from Ericsson, Volvo and Nestle failed to lift the markets.  DAX, CAC 40 and FTSE 100 are each trading marginally in the red. In India earnings were a mixed bag, from the IT pack, Tata Consultancy Services, largest software developer after Infosys was rewarded for reporting 30% surge in the net profit, the share was the top gainer on Nifty, up 5.5%. On the other hand, smaller peer Wipro was hammered badly for not meeting expectations, the share price dipped 4.3% after reporting 9.7% jump in net profit. The Sensex closed the day in red declining 94.72 points or 0.47 percentage points to close at 20,165.86. Nifty ends the day at 6066.05 declining 35.45 points or 0.58 percentage points. Market breadth was negative with 1,393 advances against 1,596 declines on BSE.