Tuesday, 12 May 2015

Closing Summary, Market Synopsis: 12th May, 2015

Profit-booking, reform worries trip two-day winning streak: Benchmark indices snapped the gaining streak witnessed during the last two sessions dragged primarily by the heavy selling pressure seen on metals, financials and capital goods stocks as traders exercised caution ahead of the release of IIP & CPI data and global cues turned weak on concerns over lack of a clear progress in the talks between Greece and its creditors. Further delays in the passage of land acquisition and GST bill and intra-day depreciation in rupee by nearly 41 paise to 64.26 against US Dollar also weighed on the sentiments. The 30-share Sensex closed down 630 points at 26,877 and the 50-share Nifty ended down 198 points at 8,127. The market breadth indicating the overall health of the market was weak with over two losers for every gainer.

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