Indian stocks nosedives as Germany uncertainity rules

The closing stock prices of major indian stock indices for today(20/5/2010) is as follows:

National Stock Exchange's Nifty ended at 4921.40, down 144.80 points or 2.86 per cent. The index slipped below 200DMA of 4988 before hitting intraday low of 4908.15.

The index breached its 200 DMA for second time in last three trading sessions. According to analysts, the situation will worsen if the index continues to close below 200 DMA for at least two consecutive sessions on huge volumes.

Bombay Stock Exchange’s Sensex was at 16415.73, down 460.03 points or 2.73 per cent. The index hit intraday low of 16373.32 and high of 16802.39.

Traders offloaded stocks from broader markets as well. BSE Midcap Index fell 2.62 per cent and BSE Smallcap Index slipped 2.61 per cent lower.

All the sectoral indices were beaten down bad and blue. BSE Metal Index fell 4.51 per cent, BSE Realty Index tumbled 3.98 per cent and BSE Bankex declined 3.65 per cent.