On a day of wide fluctuations, a benchmark index for Indian equities, the 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange, closed 155.11 points, or 0.56 percent, down on Thursday. Blue-chips took a beating on persisting concerns of foreign investors on tax claims despite government's clarification. Muted earning numbers, forecast of a below-normal monsoon and fading hopes of a rate cut by the Reserve Bank weighed on sentiments.FII's concerns still remains as they continued to be net sellers even after the government's clarification on MAT issues.
After a positive opening, the markets turned to a volatile session and finally settled in the negative territory on concerns of below normal monsoon and its subsequent impacts on our economy. Quarterly number of Infosys, F&O expiry and uncertainties over Greece kept the markets under pressure. Until and unless if some sectors quarterly numbers fails to rescue the market then we can expect the Nifty testing its crucial support levels at 8265.
The European markets fell on the back of weaker than expected data. A Market Economic data showed that the growth in euro area manufacturing and services slowed in April. Also in UK the retail sales fell unexpectedly in March. The US index futures were also trading in red. Tomorrow companies like Siemens, SSWL, INFY, Pittilam and Cholamandalam fin may announce their earnings. This is BSE Sensex's sixth fall in last seven sessions.Foreign Portfolio Investors sold shares worth Rs 910.15 crore, while Domestic Institutional Investors bought shares worth Rs 217.98 crore, yesterday as per provisional data. European stocks were trading lower today as a data showed euro-area output expanded at a slower pace in April. Other Asian indices ended mixed following a report indicating Chinese manufacturing activity contracted in April.
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