After a fantastic rally in the previous two trading sessions, the Indian equity market seemed to lose some steam today. The early new year global rally faded and investors turned cautious ahead of important economic announcements in the coming days. The corporate earnings is also expected to start trickling soon. In the process, the market ignored the upbeat data on the services PMI, which hit a five-month peak. Today's session was quite volatile. The Sensex, which managed to breach the 16000 mark in mid afternoon was seen falling back to 15800 levels, while the Nifty breached the 4780 mark and was seen falling back to 4728 levels. However, with all the ups and down, it finally ended mid-way. The midcap and the small-cap counters closed flat to positive. (Pic. Source- bseindia.com)
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