Key benchmark indices edged lower on the first trading session of the week and the month after the government revised downwards the GDP growth rate for the year ended 31 March 2013 (FY 2013) to 4.5% from 5% reported earlier. The market sentiment was affected adversely by data showing that foreign funds were net sellers of Indian stocks on Friday, 31 January 2014. Fund investors worldwide pulled $6.4 billion out of emerging market stock funds in the week ended January 29, marking their biggest outflows since August 2011, data from a Bank of America Merrill Lynch report showed on Friday.
The BSE Sensex settled at its lowest level in 11-1/2 weeks. The 50-unit CNX Nifty closed at its lowest level in more than 10 weeks, settling just above the psychological 6,000 mark at 6002 down by 88 points. The market breadth, indicating the overall health of the market, was negative. In Nifty50 stocks the advances to declines stands at 7 advances to 43 declines.
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