It was indeed a very somber day for the market as the benchmark slipped quite sharply on account of global cues. One of the major worries for the markets globally was the expectation that China might tighten its measures to control growth after this emerging economy posted GDP growth of 10.7 percent in the fourth quarter, which is the fastest in two years. The third quarter growth too was revised upward to 9.1 per cent. This is way above the Beijings target of 8 per cent. This might have caused a cascading impact on the emerging market India. The Sensex finally closed the day at 17051.14 down 423.35 points or 2.42 per cent. Even mid and smallcaps too voiced the same concerned and were down by by about more than 2 per cent each. All the sectoral indices are down in the red wherein capital goods was hit the most with a drop of 5.15 per cent, while power, PSU and realty too were down in the red at 3.47, 2.98 and 2.78 per cent respectively. The least affected was the auto and IT, which was down by 1.42 per cent each. The way the market is shedding points its better to book profits.
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