Nifty loses 65 points, ends below 5K

Indian markets ended lower on Thursday, with the Nifty falling 65 points to finish at 4,989. Indian markets remained weak for the most of the session in the absence of any triggers but selling pressure increased from the latter half after European markets opened weak.
On the BSE, Sensex lost 213 points to finish at 16,785, after trading between 16,785 and 17,004. The overall breadth on the BSE was negative. Losers outnumbered gainers by 1672 to 1067 while 80 stocks remained unchanged.

Realty stocks plunged in today’s trade. The BSE realty index fell 4.3 per cent. IBREL, HDIL and Unitech lost over 5 per cent each.

Metal and banking stocks also declined today. The metal index on the BSE dropped 1.8 per cent and the banking index was down nearly 2 per cent. Among the banking stocks, Indian Overseas Bank shed 4.2 per cent while Kotak Mahindra, Yes Bank and Union Bank of India fell over 3 per cent each.

In the Sensex pack, JP Associates was the top loser. The stock ended down 4.5 per cent at Rs 226. Reliance Infra, DLF and Hindalco were the other major losers, down over 3.4 per cent each.
JSW Steel reversed early gains to end 0.6 per cent lower today. JSW Steel and Japan's JFE Steel Corporation today entered into a strategic collaboration to build and operate an integrated steel plan in West Bengal and in the area of automotive steel.

Wind turbine major Suzlon Energy gained 2.5 per cent to close at Rs 1.8 per cent. The company today said it will sell its 35 per cent stake in the Belgian company, Hansen Transmissions.

Asian stock markets turned in a mixed performance Thursday as signs of weakness in the U.S. economy aggravated worries about the strength of the global recovery. European markets fell in early trade.

It was the second day of middling trade in Asia and followed modest losses on Wall Street. Oil and gold prices were down slightly, while the dollar fell against the yen and rose against the euro.

Japan's Nikkei 225 stock average lost 127.33 points, or 1.3 percent, to 9,549.47 — its seventh straight day of decline as investors succumbed to jitters about a possible glut of new bank shares after Mitsubishi UFJ announced its capital raising plans. The bank's shares fell 3.7 percent.

Elsewhere, Hong Kong's Hang Seng fell 197.17 points, or 0.9 percent, to 22,643.16.
South Korea's Kospi, however, added 1 percent to lead the region and China's Shanghai index rose 0.5 percent.

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