Sensex Ends At 3-Week Low As Results, Manufacturing Data Disappoint

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Benchmark indices ended the day sharply lower, as ICICI Bank crashed 4 per cent, as investors continued to digest a weak set of numbers from corporate India.

Manufacturing data for April, also came in weaker than expected, which also affected sentiments. The Sensex ended the day lower by 169 points, while the Nifty ended the day lower by 44 points.

Sensex Ends At 3-Week Low As Results, Manufacturing Data Disappoint
Leading the set of gainers from the Sensex were metal stocks like Vedanta and Hindalco. Bharat Heavy Electricals and Gail were the other stocks that saw some losses in early trade.

Banking stocks came in for some selling pressure with ICICI Bank, State Bank of India, Bank of India., PNB and Canara Bank among the big losers.

Interglobe Aviation, which runs the IndiGo Airlines crashed 5 per cent, after a disappointing set of results.
Shares in Bajaj Auto too declined after the 2-wheeler major posted a drop in April numbers.

Mid cap stocks managed to buck the trend and rallied sharply with the index ending the day with gains. Among the stocks that gained ground were Arvind which rallied 4 per cent along with L&T and Mahindra Finance. Meanwhile, markets across Europe were trading with gains, while most of Asia ended the day sharply lower.

GoodReturns.in

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