GDP shocker drags market lower; Europe stays green

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GDP shocker drags market lower; Europe stays green
The Q4 2012 GDP number which came in at a dismal 5.3% dragged markets lower, as fears of a sharp economic slowdown gripped the markets.

The BSE Sensex ended the day lower by 93 points, while the Nifty closed the day lower by 26.50 points at 4924.50 points. Europe which had dragged global markets lower on Wednesday recovered and were trading in the green. The UK's FTSE, the German DAX and the French CAC were all trading higher at 3.10 pm IST.

Shares of Tata Motors continued its dramatic fall, with the stock sliding by more than 4.73% today, after Wednesday's sharp fall. Other stocks that lost ground today were ICICI Bank and Axis Bank. Among the shares that gained in trade today were Asian Paints, PNB, IDFC and SAIL.

Shares of Speciality Restaurants which got listed on Wednesday gained for a second day in a row. The stock was up 5% in trade today.

Markets are expected to continue to show a weak trend and are likely to drift lower on lack of positive data.

Read more about: sensex, nifty
Story first published: Thursday, May 31, 2012, 15:16 [IST]
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