Indian Market Slipping

The Indian market closed a choppy session of trade on a weak note following negative global cues and a depreciating rupee. Banks, metals and power stocks came in for a bit of selling. Sensex closed at 15928, down 97 points (provisional) and Nifty at 4831, down 28 points (provisional) from the previous close. CNX Midcap index was down 0.5% and BSE Smallcap index was also down 0.5%. The market breadth was negative with advances at 514 against declines of 892 on the NSE. he Indian market pared losses in afternoon trade but ended lower in a session marked by volatility amidst the rupee touching a record low and global concerns over EU summit. Sensex shut shop at 15948, down 78 points, and Nifty at 4835, down 24 points from the previous close. CNX Midcap index was down 0.5% and BSE Smallcap index was down 0.6%. The market breadth was negative with advances at 481 against declines of 926 on the NSE. Top Nifty gainers were GAIL, Ranbaxy and IDFC while losers included Bharti Airtel, Kotak Mahindra Bank and Sesa Goa.