Markets End Lower As Global Cues Continue To Remain Weak

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Benchmark indices ended the day lower for the third straight day, as persistent selling pressure in frontline stocks dragged the indices lower.

 Markets End Lower As Global Cues Continue To Remain Weak
Global cues remained weak with the European indices in the red after strong openings. Asian markets mostly ended the day lower with the Hong Kong's Hang Sang, the Singapore's Strait Times and Taiwan Weighted all lower in trade. The Sensex ended the day with losses of 127 points led by decline in banking stocks.

Adani Ports was the biggest loser in trade despite reporting a good set of quarterly numbers.

The stock ended the day lower by a huge 12 per cent, after reports that the company was planning equity dilution and was seeking shareholders nod.

Speciality Restaurants ended the day lower by 2 per cent after reports that the company had temporarily suspended the operations of "Sigree Global Grill", Bengaluru.

NMDC on the other hand dropped after the company reduced the prices of iron ore. The stock ended 2 per cent lower.

HDFC was the top gainer in trade with NTPC and HCL Technologies among the other gainers.

The midcap index saw some serious selling pressure with stocks from the PSU banking space being the worst hit.

Canara Bank, Union Bank and Syndicate Bank saw substantial cuts. Meanwhile, markets across Europe were trading with losses of near half a per cent.

Read more about: sensex, nifty, ntpc, hcl tech
Story first published: Wednesday, May 4, 2016, 15:16 [IST]
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