Sensex takes a breather; ends lower as metal stocks melt

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The Sensex and the Nifty finally took a breather falling for the first time in six days on profit booking. The Sensex ended the day lower by 108 points. while the Nifty ended the day lower by 25 points.

Metal stocks saw severe selling pressure after poor data from China and a strengthening rupee saw investors selling into the shares.

Shares in Tata Steel, Sesa Sterlite, NMDC and JSW Steel were the top losers in trade. Software stocks which saw huge selling pressure on Monday recovered some lost ground to end the day higher. Infosys, TCS and HCL Tech were among the gainers.
Sun Pharma shares fell for the second day in a row after the company recalled some of its products in the US.

Larsen and Toubro which had had a spectacular run in the last few trading sessions finally ended the day with losses.
The Bank Nifty which has been rallying substantially in the last few trading sessions finally took a breather with the index ending lower. HDFC Bank, Kotak Mahindra and Yes Bank pushed the index lower.

Yes Bank was the top loser falling as much as 3 per cent in trade. Heavyweight, Reliance Industries also ended the day lower after reports of notice to the company from the HC in Andhra Pradesh.

Meanwhile, most of the markets across Asia ended the day with gains, including the Singapore's Strait Times and the Shanghai Composite.

Read more about: sensex, nifty
Story first published: Tuesday, March 11, 2014, 15:36 [IST]
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