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The market opened modestly higher but its stay in positive territory lasted not more than a few minutes today as the bears stormed the ring once again, and this time, were far more aggressive than how they were in the previous session.
Asian markets ended mostly ended higher and the mood in European markets was fairly positive as well, but sentiment back home was extremely negative today. Heavy selling by foreign institutional investors since the beginning of this week, reports of price rigging and insider trading in shares of several mid and small sized firms, and a surge in food inflation, all contributed in equal measure to the debacle today.
The Sensex, which tanked to 19,160.87 during the final hour, ended the day with a big loss of 454.12 points or 2.31% at 19,242.36. The Nifty, which tumbled to 5742.30, closed with a loss of 137.20 points or 2.
