Indian Stock markets started day with more than 1% gap up opening initailly and remained stagnant thereafter. But later when standards and poor's (S and P) report on india's investment grade wiped out all the early gains. S and P has cautioned that Indian can lose its investment grade due to worsening economic scenario has threatened the market. NSE's Nifty lost around 70 points from its day high and closed at 5054 after losing 14 points. Share market is likely to remain negatively biased for tomorrow. Crucial Technical resitance is lying between 5100-5130 level while support can be seen near 4990.
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