Sensex, Nifty End Lower; Metal Stocks Lead Declines

Business

oi-Sunil

By Sunil Fernandes

Updated: Tuesday, December 9, 2014, 16:33 [IST]

Benchmark indices ended the day lower led by decline in metal stocks. The Sensex closed the day lower by 322 points, while the Nifty declined 97 points.

Leading the set of losers from the Nifty were metal stocks like Hindalco, Jindal Steel and Sesa Sterlite. Tata Power, Bharti Airtel and Bhel were the other prominent losers in trade.

Infosys ended the day lower for a second day in a row. BPCL and HCPL which saw some buying support in trade in early morning due to falling crude prices ended the day with losses.

Banking shares also did not have a good trading session with private and public sector lenders seeing decline in their share prices. Syndicate Bank, IndusInd Bank, Yes Bank and State Bank of India saw buying support.

Auto makers saw their stock prices decline despite November domestic passenger car sales showing a growth of 9.52 percent.

Shares in oil and gas exploration companies like ONGC and Cairn India slumped following a sharp drop in crude prices.

Meanwhile, markets across Asia ended the day slightly weak thanks to weak overseas cues from the US. European markets were trading lower by more than one per cent led by losses in the German DAX.

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