Stock Market Updates and Commentary for Today (18th May '11)
After moving in a somewhat listless fashion right through the session, the market ended with modest losses today with investors pressing sales in heavyweight stocks State Bank of India and Reliance Industries. Though a few front line stocks managed to attract attention and posted notable gains, losses posted by the two heavyweights were so sharp that the key indices ended in the red.
Global cues were fairly positive, but investors back home appeared none too keen on building up positions. Instead, they were seen indulging in some selling almost right through the session, amid concerns about inflation and a possible slowdown in economic growth.
The Sensex, which declined to 18,020.79 in afternoon trades, ended the day at 18,086.20 with a loss of 51.15 points or 0.28%, while the Nifty ended the day at 5420.60, off the day's low of 5401.25, recording a loss of 18.35 points or 0.34%.
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