Indian markets closed in red on wednedday.During opening bulls were in control. But that sentimence remained only fro a while. At noon market was highly volatile.Panic selling witnessed in IT, Oil and gas and Auto stocks. When market headed towards closing selling activity increased. Only consumer durables and metal stocks were favourites among investors. Both Nifty and sensex closed below psychological levels of 5000 and 17,000 respectively. Sensex closed at 16807 down by 152 points where as nifty was down by 42 points and closed at 4986.
It is believed that market will be range boung in short term
Detailed report available in moneycontrol
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