Delayed monsoon dampens the markets

The market surrendered its initial gains due to fairly heavy selling from foreign institutional investors (FIIs) amid the forecast of below-normal monsoon.

The Bombay Stock Exchange 30-share index ended the day at 14,345.62, a net loss of 77.11 points or 0.53 per cent from its previous close. It touched the intra-day high of 14,578.46. Similarly, the National Stock Exchange’s 50-share Nifty dropped by 51.10 points or 1.19 per cent to close at 4,241.85 from its last close.

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