Markets End Marginally in Red

The benchmark indices ended lower, albeit marginally, for the first time in three days after touching fresh five-week highs in the earlier part of the session. Profit-taking in select index heavyweights and the not-so-encouraging cues from the global front dragged both the benchmarks below their respective psychological levels of 20k and 6k respectively midway through the session before a partial recovery saw the BSE Sensex regaining the pivotal level towards close to end at 20015, lower by 44 points. The Nifty, however, ended at sub-6k levels at 5984, down 16 points. There was relative out performance on the broader market front, with the midcap index ending at 7625, higher by seven points and the small cap index ending at 9337, up 28 points. The reversal in intra-day trend in the second half of the day could be attributed to the loss of momentum on the Asian front, with the Hang Seng and Nikkei retracting from the day's highs to end flat, and the not so enthusing start on the European bourses. The markets had closing at fresh five-week highs on Tuesday, led by firm world equities and investor optimism surrounding next year's prospects.