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The BSE Sensex and the NSE Nifty ended the day down 93 points and 26 points, respectively partly due to weak global cues and poor GDP numbers.
The Sensex closed at 16,218, while the Nifty closed at 4,924.
Although the Indian markets opened sharply lower on the back of weak global cues, they managed to hold up at the end of the day. Analysts find this surprising especially after below-than-expected GDP data.
“The Nifty remained in the red but it surprised with no sharp cut after the announcement of weak GDP numbers which came in at 5.3 per cent,” said Ms Sharmila Joshi, Head- Equity, Fairwealth Securities Ltd.
On the global front, European markets stabilised after falling nearly 2 per cent in the morning on the back of concerns over Spain. However, Asian and American markets remained in the red.
American markets and Asian markets were down by around 1 per cent each. European markets were up marginally by 0.5 per cent each.
Top gainers on the BSE were Hindalco, NTPC and HUL, while the top losers were Tata Motors, ICICI Bank and Maruti.
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