Sensex ends 66 points down; banks, realty slip
21 Jul 2011
Indian equity benchmarks closed marginally lower amid a choppy trade on Thursday. The market gyrated around its previous closing value in the morning trade due to lack of global cues. However, the second half of trade was slightly bad due to marginal fall in European markets ahead of EU Summit.
The 50-share NSE Nifty fell 25.45 points, to close at 5,541.60 and the 30-share BSE Sensex declined 66.19 points, to end at 18,436.19. The broader indices too slipped 0.4% each.
Investors are still cautious on account of European debt crisis, US debt default and inflation. In addition to that, Raj Bhatt, chairman and CEO of Elara Capital says the earnings downgrade is all set to increase concerns for the investors.
''We don't see much inflows coming into India in the next two quarters. Inflation and the possible downgrades over the next couple of quarters are the major concerns,'' he says. He believes that the foreign institutional investors (FII) flows will start coming to India only early next year, once the concerns have settled down.
France's CAC, Germany's DAX and Britain's FTSE were trading 0.8% lower (at the time of closing of Indian equities) ahead of European Union leaders' meet for second financial rescue package for Greece.
There were reports that Berlin and Paris appeared to have reached agreement over a financial rescue package for Greece early on Thursday morning.
