Markets Slump on Negative Global Cues

The Indian markets taking cues from its global peers traded on a subdued note throughout the day and closed the day on a negative note. Almost all the sectoral and broader indices ended the day on a negative note with the exceptions being the consumer durables and FMCG indices ending the day on a positive note. The main draggers for the day are the Metal, Auto and Realty indices closing the day declining by more than one percentage points. The Sensex closed the day in red declining 191.57 points or 1.08 percentage points to close at 17,509.33. Nifty ends the day at 5251.40 declining 61.10points or 1.15 percentage points. Market breadth was negative with 1,399 advances against 1,450 declines on BSE. On the global front, European stocks dropped for a third day after China’s manufacturing growth slowed and Moody’s Investors Service said it may cut Spain’s top credit rating. Asian shares tumbled and U.S. index futures fell.