Negative global cues pulls Indian stock markets down

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Dalal Street saw heavy selling today towards the end with Bombay Stock Exchange eventually closing down at 20200 levels. Weak European markets cues and lower then expected IIP data also weakened investors confidence in global economic recovery, Profit booking was yet another factor for the lower closing witnessed at major Indian stock markets like Bombay Stock Exchange and National Stock Exchange.

It is also predicted that Reserve Bank of India (RBI) will hike both the reverse repo and repo rates by 25 bp in November starting. It looks surprising that what the Ip data shows about Indian economy, The 8.5 percent growth is sustainable and will be boosted by good monsoon this year.

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At EOD the 30 component Sensex closed at 20,203.34, down by 136.55 points. It touched high of 20,368.40 and low of 20,107.25 during intraday trading hours.

National Stock Exchange's broader index NIFTY closed down by 44.95 points and was at 6,090.90.

Most of the sectoral indices at Bombay Stock Exchange also closed lower as the overall market breadth was negative.

Sector waise performance for today:
BSE Midcap Index closed down by 0.51 percent, however BSE Smallcap Index ended almost flat today. BSE Realty Index fell by 1.80 percent at close today, BSE Capital Goods Index also closed lower by 1.58 percent and BSE Metals Index was down by 1.43 percent.