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The stock markets closed in the red on Wednesday amidst much volatility and rupee weakening further.
The Nifty was down 0.51 per cent or 25 points to close at 4,836 while the Sensex fell 0.49 per cent or 79 points and closed at 15,948. Realty, infrastructure and metals were the worst hit.
The Head of Fundamental Research, Kotak Securities, Mr Dipen Shah, said: “Markets were volatile during the day and under constant pressure. The sharp weakening of the rupee below the 55-mark unnerved the markets.”
“Markets were also waiting for the outcome of the informal EU summit later in the day. Continuing concerns about the outcome and the potential impact on Greece, weighed on sentiments,” he added.
Volatility was up, with the India Vix closing almost 11.23 per cent up at 27.13.
GAIL, Ranbaxy, IDFC, Mahindra & Mahindra and Dr Reddy's were the top Nifty gainers while Airtel, Kotak Bank, SesaGoa, Bank of Baroda and Tata Power were the losers on the Nifty.
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