Jittery market continues to descend, Nifty at 4.5 month low

Mumbai, Jan 27 (PTI) The bourses turned jittery todayover continued influence of macro-worries with food inflationonce again rising its wily head as the benchmark S&P CNX Niftyclosed at 4-1/2 month low at the National Stock Exchange (NSE)here today.

The 50-share index hovered between 5,726.10 and 5,594.95before finishing at 5,604.30, down 83.10 points or 1.46 percent over its previous close.

Resuming positively after Tuesday''s fall, with todaybeing the expiry day, the market turned volatile and could nothold its gains at higher levels and gradually slipped intonegative terrain. Over and above the sentiment turned dismalfollowing marginal rise in food inflation data furtherintensified the selling.

Rate sensitive counters like banking, auto, realty alongwith metal and IT witnessed the hectic sell-off.

"The market still impacted by the rate-hike, on the faceof it the rising food inflation and today''s F&O expiry furtheradded to the burden," traders said.

DLF, Sterlite Industries, M&M, Rcom, Ranbaxy, Suzlon,Hindunilever, Reliance Capital, Bharti Airtel and IDFC werethe top losers from Nifty.

Total turnover in the cash segment rose to Rs 16,452crore from Rs 13,064.45 crore on Tuesday. A total of 7,975.32lakh shares changed hands in 63,74,760 trades. The marketcapitalisation stood at 65,70,667 crore at the end of day.