Sensex Update

Sensex Tumbles again. As the bears tightened their clutch, Thursday witnessed the Sensex closing at the lowest since January .Taking its cue from the global downturn in the bourses, the Sensex was down by 461 points at 9295.81 while the Nifty closed 136 points down at 2724.

In the wake of the huge market fall, mutual fund investors have withdrawn Rs 500 crore over Monday and Tuesday. Mutual funds experienced redemption pressure due to a steep fall in the share prices which kept the Sensex in the red throughout.

Experts say, Fundamentally nothing's wrong with the markets. Even though there is value in the market, there are no buyers. According to a global analyst, Indian market has not peaked out for good. The market will have a rebound for a short time in July and will go in for correction till October.

As of now although, the sentiment is bearish, but once the market starts picking up retail investors will start parking their money. There are still great buys such as those in the IT, FMCG sectors.

IPO NEWS:

1. DLF may cut the size of India's biggest IPO, amid a slide on the Mumbai share markets, reports Reuters.

2.GMR Infrastructure IPO to hit capital market by June end.