Across the board, profit-booking amidst weak international markets and slowdown in buying from foreign institutional investors (FIIs) saw the benchmark indices ending the day in red. The selling pressure was so severe that the good news of inflation reaching two year low-level at 3.26% from the previous week?s 3.46% and its attempt to come back in black could not sustain.
FIIs too slowed down their buying, indicated provisional data of the stock exchanges (SEs). FIIs were net buyers to the tune of only Rs 315 crore on Friday. This once again proved that the current rally is mainly on account of liquidity support provided by the foreign players, a dealer said. The 30-share Sensex closed 395.03 points lower or down 2.10% at 18,419.04. While the broader 50 stocks S&P CNX Nifty of the National Stock Exchange (NSE) slipped 96.60 points down or 1.75% lower at 5,428.25 points. However weak markets were on Friday, both the indices ended the week with sizeable gains on account of swift gains in the earlier days of the week.
