Markets End in Red

Markets ended near the day's low on witnessed in auto and IT stocks. Cues from the European peers also dampened investor sentiments, taking the Sensex to a low of 18,449 - down 93 points from the previous close. The index finally ended down 55 points at 18,507. European bourses were in the red. CAC has shed 1.2%, while DAX and FTSE are down around 1% each. In Asia, markets ended in the negative terrain on worries that the US government may not be able to settle on an agreement to cut the fiscal deficit. Hang Seng slipped 0.3% to 21,804. Markets in New Zealand and Seoul Composite were down 0.6% each. Among other news, monsoon rains were above average in June 2011, but dropped to 3% below average after slowing in the first week of July. IT stocks fell on US and European debt concerns. BSE market breadth was negative. Out of 3,012 stocks traded, 1,546 advanced while 1,322 declined in trades.