24 January 2014

WEAKNESS IN MORNING TRADING SESSION

High volatility was witnessed as key benchmark indices languished in negative zone in morning trade. The market breadth, indicating the overall health of the market, was weak. The market sentiment was hit adversely by Reserve Bank of India (RBI) governor Raghuram Rajan's comments on Thursday, 23 January 2014, that inflation is a destructive disease which is forcing the central bank to keep interest rates high.....
Weakness in Asian stocks and overnight losses for US stocks also hit sentiment on the domestic bourses adversely. The CNX Nifty was down 26.45 points or 0.42% to 6,319.20. The index hit a low of 6,294.70 in intraday trade, its lowest level since 22 January 2014. The index hit a high of 6,331.45 in intraday trade.


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