<p>That apart, weak global cues and softer-than-expected Chinese manufacturing data dragged markets across and dented investor sentiment in D-Street as realty, metal and auto shares declined further. Key indices of both BSE and NSE dropped by around 1.3 per cent.<br /><br />To begin with, the market breadth was negative and index heavyweight Reliance Industries fell after the company refuted speculation that it is considering acquiring Valero Energy, Inc. <br /><br />Two other index heavyweights ICICI Bank and L&T also fell. Analysts aver though the market may consolidate for a while but returning to rally is not on the cards immediately. <br /><br />“With a phenomenal rally that we have witnessed, a couple of days of consolidation is always on the cards. Technicllay 5323 is an important level for Nifty to be sustained for the upmove to resume,” said Ranak Merchant of Sushil Financial Services. Auto stocks lost the ground as the leader Maruti recorded 53 per cent drop in sales. <br /><br />The BSE Sensex dropped 224 points to close at 17,481points while the 50-unit Nifty at NSE slipped 69 points to end at 5,257points. With this, the Sensex has lost 324 points or 1.82 per cent in the past two trading sessions. <br /><br />The market breadth, indicating the overall health of the market, was negative with as many as 1,609 shares on BSE fell and 1,177 rose while a total of 129 shares were unchanged. During the day, European markets saw drastic fall in the day's trade on Greek fear.</p>
<p>That apart, weak global cues and softer-than-expected Chinese manufacturing data dragged markets across and dented investor sentiment in D-Street as realty, metal and auto shares declined further. Key indices of both BSE and NSE dropped by around 1.3 per cent.<br /><br />To begin with, the market breadth was negative and index heavyweight Reliance Industries fell after the company refuted speculation that it is considering acquiring Valero Energy, Inc. <br /><br />Two other index heavyweights ICICI Bank and L&T also fell. Analysts aver though the market may consolidate for a while but returning to rally is not on the cards immediately. <br /><br />“With a phenomenal rally that we have witnessed, a couple of days of consolidation is always on the cards. Technicllay 5323 is an important level for Nifty to be sustained for the upmove to resume,” said Ranak Merchant of Sushil Financial Services. Auto stocks lost the ground as the leader Maruti recorded 53 per cent drop in sales. <br /><br />The BSE Sensex dropped 224 points to close at 17,481points while the 50-unit Nifty at NSE slipped 69 points to end at 5,257points. With this, the Sensex has lost 324 points or 1.82 per cent in the past two trading sessions. <br /><br />The market breadth, indicating the overall health of the market, was negative with as many as 1,609 shares on BSE fell and 1,177 rose while a total of 129 shares were unchanged. During the day, European markets saw drastic fall in the day's trade on Greek fear.</p>
