If the beginning was bad, the end was worse. Indian indices opened gap down but managed to recover on speculation that the Samajwadi Party could form the government in alliance with the Congress. However, the hope was soon broken and the market was seen diving down once again. The Sensex and the Nifty ended near the day's low as the market players were not too pleased with the outcome of five state elections. Meanwhile, the pressure from the weak global markets, added to the woes. The midcap and the small-cap counters closed negative by over a percentage point each.
(Pic. Source- bseindia.com)
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