Nifty reclaims 5K; IT remains worst hit amid sell-off

BSE benchmark Sensex was extremely under pressure as experts feel that this is just a sentimental impact on world equities post S&P downgrade. But the Nifty managed to get back above the 5000-mark amid sell-off.

August 09, 2011 / 09:55 IST

BSE benchmark Sensex continues to be under extreme pressure just as the rest of the world. Asian Indices continued their fall for the second day as sentiments post US downgrade remained fragile. But the Nifty managed to get back above the 5000-mark.

Analysing the global phenomenon, Robert Parker of Credit Suisse told CNBC-TV18 that "the US rating downgrade was discounted by global markets. What we are currently seeing is more of investor fear, which is propelled by credibility of sovereign debt.

first published: Aug 9, 2011 09:46 am

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