Sensex, Nifty end lower; IT stocks buck the trend

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Sensex, Nifty end lower; IT stocks buck the trend
Indices
Sensex26,230.66Sensex Quote-329.26 [1.24%]
Nifty8,086.80Nifty Quote-106.10 [1.30%]
The Sensex and the Nifty ended the day lower despite a rally in select software stocks. The Sensex ended the day lower by 109 points, while the Nifty closed lower by 29 points.

Stocks from the Nifty that lost ground in trade today were Hindalco, Jindal Steel, DLF, Coal India, NTPC and ONGC. Among the stocks that rallied from the Nifty was Infosys which gained a good three per cent. Other stocks that saw good buying interest in trade were Asian Paints, Hero Motor Corp, Cipla and State Bank of India.

Shares in Agrotech Foods was up after the company said that it has opened its new manufacturing unit in Gujarat to start local production of 'Sundrop Peanut Butter'.

Coal India ended the day lower despite reports that the company was looking at altering its memorandum of association to enter into new businesses.

Mid cap stocks which have been rallying in the last few trading sessions gave up gains and ended the day sharply lower. Among the losers in trade were IFCI which lost 6 per cent, Unitech down 7 per cent and Power Finance and Ashok Leyland both lost more than 4 per cent each.

Construction and infrastructure stocks also lost ground and ended the day lower. GMR Infra, Gammon Infra and Sadhbhav Engineering all ended the day lower.

Meanwhile, markets in Europe were trading lower with the German DAX down 0.80 per cent, while the UK's FTSE was trading lower by 0.56 per cent and the French CAC was lower by 0.71 per cent.

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Story first published: Wednesday, June 11, 2014, 14:47 [IST]
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