Markets End on a Negative Note

The markets drifted lower in the last leg of the trade due to futures and options expiry; selling pressure in IT and metal shares also weighed. After opening marginally firm, the Nifty witnessed a choppy session as traders’ rolled over positions from August to the September series. The Nifty touched a high of 4,915 during the opening trades and moved between gains and losses before giving into selling pressure in the last half an hour of the trade. The Nifty finally closed at 4,840, down 49 points and the Sensex ended at 16,146, down 139 points. The IT and the Metal indices were the main draggers for the day. However, Realty, Healthcare and FMCG sectors managed to close in green. The market breadth is negative with 1138 advances as against 1638 declines. On the global front, Most European stocks climbed as investors continued to weigh whether Federal Reserve policy makers meeting tomorrow will take action to help the economy. Asian stocks rose and U.S. futures dropped.