Nifty ends lower as stimulus worries rattle global markets

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Nifty ends lower as stimulus worries rattle global markets
Fears of easy liquidity conditions being tightened by withdrawal of stimulus by central banks around the globe, saw global markets crashing, including those in India. The Nikkei shed closed 6.35 per cent lower, while the Chinese Shanghai Composite was down almost 3 per cent in trade, with European stocks trading deeply in the red.

The Sensex ended the day lower by 239 points (provisional), while the Nifty lost 61 points in trade. Among the top losers in trade were Punjab National Bank, NMDC, Tata Motors, Bank of Baroda, Jaiprakash Associates and Bajaj Auto.

Stocks that gained in trade were Hindalco, Bharti Airtel, Hero Motor Corp and Axis Bank. Sun Pharma lost 3 per cent after the company has been asked to pay $550 m to Pfizer on Protonix settlement in 2013.

Apollo Tyres lost a huge 22 per cent after reports emerged that it would acquire Cooper Tire in all-cash deal for Rs 14,500 crore. Markets were worried over the company's ability to service debt.

MMTC fell 10 per cent in trade after the government fixed the floor price for the company's share sale at Rs 60 per share.

Real Estate stocks also ended lower in early trade with DLF, Parsvnath and Anant Raj among the losers.

Indraprastha Gas ended the day lower despite the saying it will buy 50 percent in Central UP Gas for Rs 69 crore.

IL&FS Transportation, which got environment okay for 3 road projects gained in trade today.

Read more about: sensex, nifty
Story first published: Thursday, June 13, 2013, 14:51 [IST]
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