Nifty ends around 5050: Experts say 5200 is a distant dream

Moneycontrol Bureau

It was a disappointing session on Dalal Street. The Nifty lost 40 points and closed just below the 5,050 mark, at 5,049.95. The Sensex, on the other hand, lost 151 points and ended at 16,785.64. After remaining choppy in the first half of the session, the markets took a late dive as disappointing earnings from the likes of Larsen and Toubro (L&T), JSW Steel and Idea dampened the sentiments. Experts say, the Indian market needs local catalyst to trade at a much higher level. According to them, the market will remain volatile and it will be difficult for the Nifty to breach 5,200 soon. Devangshu Datta, consulting editor of Outlook says, the Nifty will face resistance at 5,150.