The weakness continued at the markets for the third straight session. The Nifty shed another 30 points to close below 6,050. The Sensex shut shop at 20,184, down 116 points. Cement stocks were the big losers today with ACC and Ambuja shedding 5% apiece.
The markets are showing no signs of resilience and the Nifty is in real danger of closing below 6000 before Infosys kicks off earnings season next Thursday. According to Ambreesh Baliga of Karvy Stock Broking, the Nifty may slip to 5,700 by the end of this month. He sees support for the market at the 5,980-6,000 level. Said Baliga,Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
