The Indian benchmarks ended the day on a slightly negative note onAugust 18th, 2013. After the massive round of panic selling at open which halted at 5100, Nifty rebounded sharply as INR showed signs of halting after hitting weekly trendline. Rally again was led by IT names, which has become a crowded trade in market. BSE IT index reached new lifetime high today. Also expectation of a rally tomorrow is running high in market as futures on many names have been trading at discount over last few days & many expect a VWAP based buying. All stronger names collapsed in morning but saw buying interest at lows. Nonetheless they under performed overall market. Rally in Nifty topped out @5300. Cairn rallied on rising crude. Advance-Decline traded between 0.2-0.5 times. INR again remained weakest traded EM currency today. Market saw largest lifetime volumes today also on back of expiry related activity.
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