Market Heatmap- 11 June 2012

A promising session was marred by a late afternoon selloff. The sell-off  was triggered by Standard & Poor’s warning on further downgrade of India’s debt rating. This made India end-up under-performing the world equity markets amid fears that India could be stripped of its ‘investment grade’ rating if growth stays low and deficits stay high. The rupee too came under pressure following the release of S&P’s report. The Sensex closed at the level of 16668.01 i.e., down by nearly 50.86 points and the Nifty closed at the level of 5054.1 i.e., down by nearly 14.25 points. This led the midcap counters to close negative while the small-cap counters managed to close positive. On the sectoral front, except for consumer durables and FMCG indices, all the other indices closed in red. Capital Goods index closed as the major loser with losses of over one and a half percentage points. However, the market breadth closed flat.Find out more at :http://www.facebook.com/bmawealth?sk=app_206541889369118