Nifty undergoes catastrophe,falls 2.38

As expected the market opened on a lower note on the back of narrowly mixed Asian market,the momentum got suddenly hijacked by all the negative domestic sentiments ranging from alarming inflationary trend,scams,as well as Apex bank intervention with a key index gradually violated important 6000-mark which triggered merciless sell-off.

Foreign institutional investors FIIs and domestic institutional investors offloaded heavy chunk which aggravated the sell-off.

8216;Uncontrollable inflationary pressure is hounding the market sentiment and without tampering the growth,how authorities can contain the problem at this juncture8217;,traders commented.

Hindalco,Tata Motors,Suzlon,Sterlite Industries,Reliance Infra,RPower,Mamp;M,Reliance Capital,Ambuja Cement and ITC were the top losers from the Nifty.

Total turnover in the cash segment was higher at Rs 14,357.83 crore today from Rs 13,478.62 crore yesterday. A total of 6,720.39 lakh shares changed hands in 60,13,076 trades and market capitalisation stood at Rs 68,93,801 crore at the end of trade today.