Markets end lower; Dr Reddy's, Kotak Bank drop sharply

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Markets end lower; Dr Reddy's, Kotak Bank drop sharply
Markets ended the day lower today on profit booking and weak European cues. The BSE Sensex closed the day lower by 120 points, while the Nifty ended the day lower by 37.60 points at 5205 points.

Among the shares that lost ground today were Kotak Bank, which dropped more than 2% after analysts were disappointed with the rise in non performing assets of the company. Dr Reddy's too declined after the company's results failed to cheer investors.

Shares of Maruti Suzuki gained more than 2% on reports that the Manesaar plant would restart production by Tuesday. The shares of the company had dropped by more than 8% on Thursday following a shutdown at the Manesar plant owing to labor related issues.

Other shares that gained in trade today were Jaiprakash Associates and TCS.

Markets in Asia closed the day on a mixed note, while markets in Europe were trading flat. Indian equities are likely to take support from global developments, as there are no domestic triggers.

Marketmen are hopeful that the government will unleash a slew of reforms, since the race for Rashtrapathi Bhavan is now over.

Read more about: sensex, nifty
Story first published: Friday, July 20, 2012, 15:07 [IST]
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