India-Global Market Summary 16-05-12Are you confused with savings and investment? Attend ourwebinar session conducted on every Sunday from 11:00 a.m to1:00 p.m and clarify all your doubts in finance planning. Visitwww.ifmaonline.com and enroll yourself to take up training.• Market declined on fears that failure of Greece to form a government may set a stage for a June election that could increase the risk of Athens abandoning the euro and deepening the euro zones debt crisis.• Sensex and Nifty declined to 18 week low. Sensex fell 1.83% to 16030.09 and Nifty fell 1.71% to 4858.25.• Weak rupee also escalated the fears of recession amid investors on Wednesday trade• Tata Motors tumbled 7% after the company said its global sales remained flat in April at 87,377 units over the same period last year.
• Metal shares were under pressure after the six metals traded on the London Stock Exchange closed at the lowest level on Greece woes• Hindalco hit two-and-half year low, was down 3%. JSW Steel, SAIL, Tata Steel and NMDC ended down between 3- 4%, followed by Jindal Steel and Power, Hindustan Zinc and Coal India, down 2-3%. BSE Midcap index plunged by 0.78% whereas BSE Smallcap index closed down 1.11%• The market breadth in BSE ended unhealthy with 1,733 shares declining and 983 shares advancing.
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