Stock Market Updates for the day (19th July '11)
The market ended on a negative note after a choppy ride on Monday as investors, amid worries about the current financial crisis in Europe and on a none-too encouraging near term outlook for the U.S. economy, chose to tread cautiously and indulged in some sustained selling almost right through the session.
The start was slightly positive but the market soon gave up early gains, and, after moving modestly higher for close to three hours, slipped into the negative zone and never really found any worthwhile support to wriggle out of the red today. High inflation, weak industrial production data and caution ahead of key results all contributed to the lackluster moves during the session.
The Sensex, which surged to 18,622.56 in early trades, but eased to 18,469.53 later on in the session, ended the day at 18,507.04, netting a loss of 54.88 points or 0.3%. The Nifty index of the National Stock Exchange closed at 5567.05, around 16 points off the day's low of 5550.95, recording a loss of 14.05 points or 0.25%.
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