Market sinks under macro worries, Nifty slumps 2.37 pc

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Mumbai, Feb 4 (PTI) Concerns over macro worries onceagain overwhelmed the market sentiment as across the boardsell-off saw the benchmark CNX Nifty sink to a six month lowat the National Stock Exchange (NSE) here.

The 50-share index swung wildly between 5,556.30 and5,369.05 before concluding at 5,395.75, down 131.00 points or2.37 per cent over its previous close.

Leaving over the magnificent overnight pull-back rallythe session commenced on a quiet note and gave away some ofits gains before bouncing back on select heavy weights.

The early mid-afternoon trade showed extreme volatilitywith heavy selling interest rate sensitive counters, IT,Metal, FMCG and pharma which pulled down the key index to theday''s low.

"Concerns over domestic macro worries which is notshowing any signs of abetting is threatening marketfundamentals as of now FII are pulling out and no fresh aremoney is coming in," traders said.

Sun Pharma, Kotak Bank, Ambuja Cement, M&M, Hindalco,L&T, Reliance Infra, Tata Power, ITC and Axis Bank topped thelosers from Nifty.

Total turnover in the cash segment rose to Rs 13,569.72crore from Rs 11,695.73 crore yesterday. A total of 7,141.90lakh shares changed hands in 59,82,635 trades. The marketcapitalisation stood at Rs 63,50,820 crore.

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