Markets gyrate on political imbroglio

Stock markets were extremely volatile as traders speculated on the fate of the United Progressive Alliance (UPA) government in its confrontation with the four Left parties over the Indo-US civil nuclear agreement.

On a day when foreign institutional investors (FIIs) were net buyers for the first time in a month, the Bombay Stock Exchange's 30-share index, the Sensex, ended down 84.68 points, or 0.59 per cent, to 14,163.98.

The broader 50-share S&P CNX Nifty Index closed at 4,114.95, down 38.2 points, or 0.92 per cent from yesterday.

The fact that the FIIs were net buyers of stocks worth Rs 274.64 crore in the cash market will also act as a confidence booster for markets tomorrow. 

But analysts said the markets would continue their yo-yo movement for some more time.