Indian Markets ended flat on Thursday - LuvKush Finserve

Markets ended flat, amid a volatile trading session on Thursday, with Financial Technologies hogging the limelight after the stock plunged 65%. The stock was hammered after suspension of all contracts except "e-series" by the NSEL, in which it has majority stake, raised concerns about liquidity crunch and settlement defaults at the exchange. The Sensex ended 29 points lower at 19,317 and the Nifty ended 14 points down at 5,728.

The broader markets were battered heavily. BSE Mid-caps and Small-caps indices fell between 1-2% on the BSE.

The RBI intervened in the foreign exchange market on Thursday to stop the rupee's slide toward a record low as its defence of the currency, built around draining cash from money markets, came under rising pressure. With the Reserve Bank of India struggling to hold the line, investors are skeptical whether the government will take swift, credible action to reduce a gaping current account deficit despite Finance Minister P. Chidambaram's assurances.

The rupee was down 43 paise at Rs 60.83 against the US dollar. BSE Realty index plunged by nearly 4% followed by counters like PSU, Oil & Gas, Metal, Auto, Power, Consumer Durables and Capital Goods, all dropping between 1-3%. However, BSE Bankex gained by 1%.

Source : Equity Bulls

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