Markets End on a Negative Note

Volatile markets slumped in late noon trades to end near the day's low with losses of almost 2 per cent in a single trading session. Selling pressure was seen in Realty and Oil & Gas indices. The Sensex, after opening with a positive gap, had dropped into red as heavyweight, RIL, declined. A probable rate hike in China had been the cause of worry for investors. The index, thereafter, started to recover. However, selling pressure aggravated in the last one hour of trades owing to the weekend factor. The Sensex closed the day in red declining 345.20 points or 1.73 percentage points to close at 19,585.44. Nifty ends the day at 5890.30 declining 108.50 points or 1.81 percentage points. Market breadth was negative with 699 advances against 2,276 declines on BSE. On the global front, European stocks fell, erasing the Stoxx Europe 600 Index’s weekly advance, as investors await confirmation of whether Ireland will accept a bailout of its banks. Asian stocks rose and U.S. index futures fluctuated.