Nifty falls below 5050; banks, metals, realty down

22/09/2011 00:00 AST

Indian markets were witnessing sharp selling pressure in line with global peers as the US Federal Reserve's warning of downside risk to the US growth at its FOMC meet spooked sentiments. All the sectoral indices were in the red with realty, banks and metals being the worst hit.

"There are no real surprises in the US Federal Reserve's much-hyped 'Operation Twist'. The FOMC has unveiled a $400bn debt-swap program to shake the US economy out of its deep slumber. The Fed has also warned of significant downside risk to US growth from the turmoil in the eurozone.

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