Global Cues Weighs Heavy on Markets; Ends on a Negative Note

The markets were routed by the weight of negative cues emanating from the global front. The Sensex ended at 17,940, lower by 169 points and the Nifty shut shop at 5404, down 51 points. The midcap index ended at 6785, lower by 22 points and the smallcap index ended at 8109, down 54 points. Fears of credit downgrade by rating agencies and weak consumer spending data had dented investor sentiment in the US markets overnight. And even the fact that the US had averted debt default after Senate approved 74 to 26 vote of the $2.1 trillion plan for reducing deficit and President Barack Obama signed the bill to raise the US government's debt ceiling failed to lift investor sentiment. The Dow Jones had declined 266 points and Nasdaq had slipped 75 points. Back in India, the main dragger is the capital goods index declining more than two and half percentage points. It is followed by the Auto and healthcare indices declining more than one percentage points. The market breadth was negative with 1160 advances as against 1706 declines on the BSE.