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Last Updated : Dec 16, 2011 10:18 PM IST | Source: Moneycontrol.com

Nifty ends below 4700: Experts see more downside

Despite RBI's policy on expected lines and flat global cues, the Nifty broke below the 4,700 mark and closed at 4,650. However, experts say this is not the end of the carnage. According to them, the pain is not over yet and the downtrend has been reinforced.


Moneycontrol Bureau


Over the last few days, several analysts had predicted new lows for the Indian market. Those worst fears have come true.


Despite RBI's policy on expected lines and flat global cues, the Nifty broke below the 4,700 mark and closed at 4,650, down 94.75 points, the lowest level since November 2009. Meanwhile, the RBI acted along expected lines. The central bank left repo and CRR rates unchanged. It also hinted at a policy reversal in future. Read all the important economy stories here .


The Sensex closed at 15,491.4, after shedding more than 560 points from the day's high of 16,068.90.


However, experts say this is not the end of the carnage.  According to them, the pain is not over yet and the downtrend has been reinforced.

Sudarshan Sukhani of s2analytics.com says, the volatility is done with. He sees more downside for the market. 

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First Published on Dec 16, 2011 04:30 pm
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