Sensex ends lower for sixth day in a row

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Sensex ends lower for sixth day in a row
The Sensex ended the day lower for a sixth in a row, as selling pressure accelerated in the last 30 minutes of trade. The Nifty closed lower by 7.40 points, while the Sensex closed lower by 56 points (provisional).

Among the top gainers in trade were IDFC which jumped following value buying at lower levels. The other Nifty stocks that climbed in trade were Ambuja Cements, Bank of Baroda, Bajaj Auto, Jindal Steel, Hero Motor Corp, Tata Power, Kotak Mahindra and Hindalco Industries.

Among the top losers from the Nifty stocks was DLF, Ranbaxy, Tata Steel, Sun Pharma and BPCL. Bharti Airtel gave-up gains after reports that the Department of Telecommunications had sought increased amounts from telecom operators.

Tata Motors continued to lose ground on fears that stringent fuel efficiency could hit vehicle sale in China, one of the top markets for the company.

Steel Authority of India, in which the government was selling a stake today ended the day lower. Shares in NHPC ended the day lower after a Minister said that they had received 19 corruption cases against NHPC from 2010-12.

Shasun Pharma fell after the company approved conversion of 15 lakh warrants into equity shares. Mahindra and Mahindra ended the day firm after reports that the Ministry would reduce the excise duty on small utility vehicles.

PSU banking stocks which came in for severe selling pressure on Thursday saw a smart rebound in trade today. Among the gainers from the space were Canara Bank, which jumped 4.41 per cent, Bank of India jumped 3.84 per cent and Punjab National Bank gained 2.22 per cent.

Meanwhile, markets in Asia ended the day mostly lower. Among the prominent losers from the Asian markets were the Japanese Nikkei which lost 2.65 per cent and the Hang Sang which lost 0.50 per cent.

Read more about: sensex, nifty
Story first published: Friday, March 22, 2013, 15:22 [IST]
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