Indian Markets settle lower on heavy selling pressure - Microsec

Indian markets settled lower on Wednesday on the back of heavy selling pressure seen in realty, power and PSU stocks. Moreover, the DMK's pullout from the ruling UPA coalition as well as the Cypriot parliament's decision to reject a bailout proposal weighed on investor sentiment.

Nifty closed at 5694.40 down by 51.55points or 0.90% over the previous day closing of 5745.95 after witnessing a low of 5682.30 and a high of 5745.30. Sensex closed at 18884.19 down by 123.91 points or 0.65% over the previous day closing of 19008.10.It touched an intraday low of 18836.77 and high of 19028.09.

The markets' breadth was negative. Out of 3005 stocks traded 761 stocks advanced, 2126 stocks declined and 118 stocks remained unchanged. In Sensex, Out of 30 stocks 11 stocks advanced and 19 stocks declined.

Among the sectors, BSE Realty ,BSE Power and BSE PSU were the main losers of the day, which decreased by 4.67%, 2.65% and 2.37% respectively.

In BSE Realty sector HDIL, Unitech and Anantraj decreased by 19.90%,7.13% and 5.41% respectively. In BSE Power sector Reliance Infra, CESC and Reliance Power declined by 9.31%,6.21% and 6.13% respectively. In BSE PSU sector Bank of India, SBI and Canara Bank decreased by 4.17%, 3.87% and 3.74% respectively.

Source : Equity Bulls

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