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The Indian markets closed marginally lower on Wednesday, extending losses from the previous session, with the NSE Nifty ending below the 5000 mark for the first time since January 18, 2012. The session was particularly choppy, with the key indices swinging back and forth almost throughout the day. With this, the Nifty has lost ~150 points in the last two sessions. Sustained selling pressure was seen in Metals, Realty, Banking, Power, PSU and Oil & Gas stocks. The BSE Sensex ended at 16,479 losing by 0.4% or 66 points. It had earlier touched a day’s high of 16,615 and a day’s low of 16,422. It opened at 16,436. The NSE Nifty settled at 4975 down by 25 points or 0.5%. It touched a day’s low of 4,960 and day’s high of 5,013. The INDIA VIX on the NSE further surged by 4% to close at 23.04. It hit days high of 23.87. It hit a low of 22.06. The market breadth continued to remain negative, 1796 stocks declined and 936 stocks advanced. FOR MORE - CLICK HERE »

"Many are stubborn in pursuit of the path they have chosen, few in pursuit of the goal." - Friedrich Nietzsche. The market is treading along with no clear goal in sight. While, the GAAR deferment saved the day on Monday, eurozone worries caused a tumble on Tuesday. Weakness persisted on Wednesday and the volatile Nifty closed below 5000 again. Greece and Spain continue to be major source of fear. Efforts to form a government in debt-plagued Greece have failed. Spanish shares plunged amid growing talk that troubled lender Bankia SA will be nationalised. Spanish bond yields crossed 6% again. In the US, the Dow is experiencing its worst losing streak since August 2011. Oil and gold futures extended losses while the dollar was firm. Large markets in Europe escaped steeper losses and Asian indices are mixed. We see a slightly positive opening but market players are likely to remain skittish amid persistent FII selling and weakness in the rupee. Watch out for the IIP data on Friday. Result-oriented action is likely to continue. FOR MORE - CLICK HERE »