It was yet another volatile day of trading as
the bears came back strongly but the Nifty defended 8700. The bank stocks led
the decline and the midcaps, which have been generally outperforming the
benchmark indices, today succumbed to the selling pressure.
The oil gas stocks
were the silver lining for the markets as the index ended more than 2.5 percent
in the green. The Sensex closed down 114.77 points or 0.4 percent at 28106.21
and the Nifty was down 34.40 points or 0.4 percent at 8709.55. About 1367
shares have advanced, 1513 shares declined, and 132 shares are unchanged. India
Inc is brimming with optimism as the India economic summit of the world
economist forum kicks off in. However, industry believes investments will pick
up pace only after 6 to 9 months.
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