Negative cues from European markets took their toll yesterday and the indices shed all the morning gains in the afternoon. Post sharp fall yesterday, markets attempted recovery in yesterday’s trade. Trading yesterday started on an optimistic note, however; sentiments turned cautious by noon. Eurozone worries and another slide in the rupee against the U.S. Dollar resulted in investors turning risk averse.Markets pared most of the morning gains but managed to close in the green. FMCG, realty and metal outperformed all other sectors and closed with substantial gains while capital goods, consumer durables and auto lost significantly. The Sensex closed at 16070, up 40 points from its previous close, and the Nifty shut shop at 4870, up 12 points. The CNX Midcap index was down 0.2% while the BSE Smallcap index gained 0.1% in yesterday's trade. The market breadth was positive with advances at 720 against declines of 699 on the NSE. The top Nifty gainers were Ambuja Cements, SAIL, ITC and JP Associates while the biggest losers included Reliance Infra, L & T, Mahindra & Mahindra and Bajaj Auto.
Markets likely to be under check. Supports at 4840 4765. Resistances at 4900 4945