HomeNewsBusinessMarketsGlobal gloom overshadows IIP surprise: Dip below 5500 scary

Global gloom overshadows IIP surprise: Dip below 5500 scary

Equity benchmarks fell quite sharply in the second half of trade - down 249 points on the Sensex, especially after sell-off in European markets.

May 13, 2011 / 10:33 IST
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Equity benchmarks fell quite sharply in the second half of trade - down 249 points on the Sensex, especially after sell-off in the European markets. Even better-than-expected industrial output data could not support the market because data was quite better only on sequential basis, but it is still bad when calculated on an anually basis.

The 50-share NSE Nifty closed below the 5,500 mark on Thursday, down 79 points to close at 5,486. The 30-share BSE Sensex plunged 249 points, to settle at 18,335. Here's how traders can gain from tomorrow's Assembly polls Sajiv Dhawan, JV Capital Services says more than the dip the most scary matter is the short positions in the market which been between 5600-5700 on the Nifty.  
first published: May 12, 2011 04:53 pm

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