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    HomeNewsBusinessMarketsNifty snaps 5-day rally, ends below 5500

    Nifty snaps 5-day rally, ends below 5500

    The benchmark Nifty snapped five-day winning streak on Friday and closed below the 5500-mark, dragged down by profit booking in oil & gas, Anil Dhirubhai Ambani Group (ADAG), infrastructure, telecom, metal and financial companies' shares.

    February 18, 2011 / 16:36 IST

    The benchmark Nifty snapped a five-day winning streak on Friday and closed below the 5500-mark, dragged down by profit booking in oil & gas, Anil Dhirubhai Ambani Group (ADAG) stocks, infrastructure, telecom, metal and financial companies' shares. The Nifty had rallied more than 350 points in the previous five sessions.

    The markets can go lower in the short term, says Suresh Mahadevan of UBS Securities. "The big worry is that a lot of foreign investors have been nervous but looking at the FII numbers, it doesn
    first published: Feb 18, 2011 03:48 pm

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