Nifty Declines for the 6th Straight Day

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Benchmark indices ended the day lower with the Nifty ending with losses for the 6th straight day led by a sharp decline in the stock price of Tata Motors.

Nifty Declines for the 6th Straight Day
Sensex28,177.44Sensex Quote100.26 [0.36%]
Nifty8,710.90Nifty Quote17.85 [0.21%]
The Sensex ended the day with losses of 133 points, while the Nifty drifted lower by 50 points as stocks like Bharat Heavy, Jindal Steel, Gail and Sun Pharma continued to drift lower.

Banking stocks which were hammered down ever since the RBI Monetary Review, saw some recovery in trade. Punjab National Bank, State Bank of India and Federal Bank were among the gainers. Private sector banks like Axis Bank and Yes Bank also saw some recovery in trade.

Shares in Infosys continued to see buying interest as the management announced some structural changes.

Talwalkars saw some selling pressure after the company's results came in slightly below expectations. Shares in Ballarpur Industries were hammered down as the company reported a Q2 consolidated net loss at Rs 50.6 crore versus profit of Rs 17.4 crore.

IT shares saw some buying interest with HCL Tech and TCS among the gainers. Meanwhile, markets across Asia ended the day marginally higher ahead of the US jobs data. European markets were marginally lower as debt concerns in Greece continued to weigh on markets there.

Read more about: sensex, nifty
Story first published: Friday, February 6, 2015, 14:02 [IST]
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