Nifty plunges 150 points in global sell-off
Thursday, 20 May 2010
MUMBAI, May 19 (Economic Times): Equities ended in deep red Wednesday as panic stricken investors offloaded positions following bearish sentiments in global markets after Germany banned short sales in some government bonds and stocks.
National Stock Exchange's Nifty ended at 4921.40, down 144.80 points or 2.86 per cent. The index slipped below 200DMA of 4988 before hitting intraday low of 4908.15.
The index breached its 200 DMA for second time in last three trading sessions. According to analysts, the situation will worsen if the index continues to close below 200 DMA for at least two consecutive sessions on huge volumes.
National Stock Exchange's Nifty ended at 4921.40, down 144.80 points or 2.86 per cent. The index slipped below 200DMA of 4988 before hitting intraday low of 4908.15.
The index breached its 200 DMA for second time in last three trading sessions. According to analysts, the situation will worsen if the index continues to close below 200 DMA for at least two consecutive sessions on huge volumes.