Market closes lower amid political nervousness

Source: Moneycontrol.com

It was an extremely volatile session for the markets on the back of political unceratnity on Indo US nuke deal. There was extreme political nervousness after 1:00 pm which took markets in the red zone.

The Left has taken a hard stance. Central Committee describes Indo-US Nuke deal as 'unacceptable', Central Committee says Govt must not negotiate with IAEA for safeguards.

The midcaps and smallcaps took it on the chin and ended with deeper cracks.

Sensex and Nifty has been swinging sharply on both the side of flat line. Sensex has swung nearly 400 points and Nifty has swung over 100 points. The fall has come despite some positive cues from Asia and US equity markets.

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Indian Stocks Rise; Reliance Industries, Ambuja Cements Advance

Aug. 23: ( Bloomberg) Indian stocks rose, mirroring gains in global markets as concern eased that a credit crisis triggered by losses on U.S. home loans will derail global economic growth. Reliance Industries Ltd. led the advance.

``Worries easing on the U.S. loan front has sparked a global rally and India is participating in it,'' said Jayesh Shroff, who helps manage the equivalent of about $5 billion of assets at SBI Funds Management in Mumbai.

Ambuja Cements Ltd., the country's fourth biggest cement maker, gained after Holcim Ltd., the world's second-largest cement maker, said it plans to raise its stake in Ambuja. Read More