Sensex Ends Lower As Volatility Ebbs; Banking Stocks Fall

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Markets ended the day lower, as there was significantly less volatility in trade, following the same pattern of the last few days.

The Sensex ended the day lower by 51 points, while the Nifty closed lower by 23 points. Leading the set of losers were banking stocks, after fears that new lending norms, may lead to contraction in net interest margins.

Sensex Ends Lower As Volatility Ebbs; Banking Stocks Fall
Shares of ICICI Bank and Axis Bank were the major losers from the private banking space. On the other hand State Bank of India, Punjab National Bank, Syndicate Bank and Canara Bank were the losers from the government banking space.

TV Today Network surged after the Reserve Bank of India said that FIIs/RFPIs can now invest up to 26 percent in the company.

Metal stocks continued to see some buying interest in trade with Tata Steel, Hindalco and Vedanta among the gainers.

IT stocks were weak in trade with stocks like HCL Tech and Infosys seeing losses. Cox & Kings ended almost 3 per cent lower after reports that the company has sold Explore Worldwide to Hotelplan UK Group for 25.8 million pound.

Mid cap stocks ended the day lower with TVS Motors seeing a deep cut of 5 per cent, while Oriental Bank, Karnataka Bank and Just Dial were the other losers from the space.

Meanwhile, markets across Asia ended the day mixed with the Shanghai Composite gaining ground, while the Seoul Composite, Japanese Nikkei and the Strait Times lost ground.

Read more about: sensex, nifty, infosys, tcs, canara bank, icici bank
Story first published: Wednesday, December 2, 2015, 14:30 [IST]
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