Expiry of bullishness…Nifty ends below 6000

It was an absolute bear attack in the last half an hour of the day. Selling in the Realty, Power and the Metals stocks dragged the NSE Nifty to end below the 6000 levels. Even the broader indices were under pressure. In the past three days the index has now lost nearly 120 points. Selling was so severe in the last half and hour, it was whip-saw, markets just crashed and it was on huge volumes. The turnover crossed all time high surging past the 2.43 lakh crores",



"The selling was so severe; it wiped out nearly 60 points from Nifty index within two minutes not giving any opportunity for the traders to square-off their positions", says Amar Ambani, Head of Research (India Private Clients) - IIFL.

The BSE Sensex slipped 64 points to close at 19,941. The NSE Nifty lost 29 points to close at 5,987.

Barring the BSE Auto index all the other BSE sectoral indices ended in the red. The BSE Realty index was the top loser, the index lost 1.6%, BSE Consumer Durables index lost 1.3% and the Power index was down 1.2%, BSE FMCG index was down 1% and BSE Pharma index was down 1%.

The broader indices were under pressure as well, the BSE Mid-Cap index ended lower by 0.7% and BSE Small-Cap index fell by 0.6%.

The European indices were trading in green, the DAX in Germany was up 0.8%, the CAC 40 index in France was up 1% and FTSE index was up 0.9%.

Outside the frontline indices, the big losers in the broader market were United Spirits, Andhra Bank, UCO Bank and Indian Bank.

On the other hand, gainers included Thermax, Asian Paints, Hindustan Oil and Cummins India.