The S&P CNX Nifty declined further by 72 points to close at a three-week low of 5,373.70 on the National Stock Exchange (NSE) due to sustained selling pressure from investors amid rising crude oil prices and heavy capital outflows. Political instability over fresh charges by the Opposition also affected the market sentiment as the key index slipped below the 5,400-mark. The 50-issue Nifty resumed higher at 5,475.35 and moved in a range of 5,483.05 and 5,366.40 before settling at 5,373.70,showing a net loss of 72.95 points,or 1.34 per cent,from its last close. Contrary to weak sentiments in India,most Asian stocks ended higher as concerns eased over nuclear radiation following last week's earthquake and tsunami in Japan,and as Group of Seven nations began intervening in the foreign exchange market for the first time in more than a decade. Barring Singapore,other major Asian markets closed in the green while European shares were also trading higher in their mid-session trade. Top five Nifty losers were RInfra,which dropped by 3.89 per cent,M&M 3.83 per cent,Reliance 3.67 per cent,RPower 3.00 per cent and BPCL lost 2.63 per cent. Total turnover declined to Rs 10,607.13 crore from Rs 11,061.27 crore yesterday. A total of 4,753.76 lakh shares changed hands in 52,67,312 trades. The market capitalisation stood at Rs 62,80,788 crore.
