Markets end lower; tech stocks fall

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Markets ended the day lower led by profit booking in frontline technology stocks which witnessed a bout of profit booking.

The Sensex ended the day lower by 132 points, while the Nifty dropped 42 points in trade. Tata Consultancy Services which reported a stellar set of results fell almost 5%, while Infosys fell 2% and HCL Tech declined 7%.

Banking stocks also ended the day lower, though, Yes Bank bucked the trend and ended the day higher. Axis Bank which reported a decent set of results also ended the day higher.

PSU banks, however, fell with Canara Bank, Bank of India and Bank of Baroda all falling more then 3 per cent each.
Hindustan Zinc closed lower after Vedanta offers USD 3.48 billion for government's stake in the company. Bajaj Auto's was in the limelight in trade today after its Q2 PAT rose 13% at Rs 837 crore v/s Rs 740.6 crore YoY.

Mid cap stocks also declined in line with the broader markets. Among the stocks that declined from the mid cap stocks were Divis Labs, GMR Infra and India Cements.

Meanwhile, markets across Asia ended the day higher, while Europe was trading with losses. The German DAX, the French CAC and the UK's FTSE were all trading lower.

Story first published: Thursday, October 17, 2013, 16:05 [IST]
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