Thursday, June 16, 2011

Nifty closes below 5400 on repo rate hike by RBI

On the day of Lunar eclipse, European and American markets declined more than one percent. As Asian markets also opened lower, today(16-6-11)Nifty opened at 5404 with a loss of 44 points, exhibited high volatility and closed at 5397 with a loss of 51 points. After announcement of 25 basis points repo rate hike by RBI, Nifty moved 40 points up and down twice and declined further below 5400. Nifty futures range was 5393 - 5459, having a difference of 66 points. Tomorrow's Agni level is at 5413.

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