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May 12, 2010, 09.03 AM IST
The market closed in the negative terrain, reacting to the concerns over implementation of USD 1 trillion package announced by EU and International Monetary Fund (IMF) on Monday. The Sensex closed at 17141, down 189 points and the Nifty was at 5136, down 57 points.  The market on Tuesday closed in the negative terrain, reacting to the concerns over implementation of USD 1 trillion package announced by EU and International Monetary Fund (IMF) on Monday. The Sensex closed at 17141, down 189 points and the Nifty was at 5136, down 57 points. Almost all sectors witnessed selling pressure - metal, realty, infrastructure and oil & gas, which rallied sharply, were the major ones. Is volatility here to stay? Ved Prakash Chaturvedi, Tata Mutual Fund, says, “I think clearly volatility is here but also the fact that I guess one has to realize that the Indian market is coming out of period of extremely sharp growth in 2009 and hence there will be a period of consolidation.” “I think on the news of the day the markets will react sometimes sharply either ways, on a more fundamental basis earnings numbers coming out are in line with expectations clearly there is economic recovery underway. In course of time that will lead to an uptrend in markets but for the moment I think there is an anticipation of interest rates going up, there will be apprehension about the monsoons and there will be apprehension about some overseas events China. So I guess on balance the upside is really capped,” he adds.
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