Markets End Lower; Banking Stocks Higher Ahead Of RBI Policy Meet

Business

oi-Sunil

By Sunil Fernandes

Updated: Monday, June 6, 2016, 15:34 [IST]

Benchmark indices ended the day lower, ahead of the RBI policy due later on Tuesday. Global markets were quiet with most investors awaiting the speech of Fed Chairperson Janet Yellen.

The Sensex ended the day at 26,777 points, down 66 points, while the Nifty ended the day lower by 19 points.

Select banking stocks saw some superb buying support with Karnataka Bank jumping 7 per cent in trade, while other big gainers were Federal Bank and State Bank of India.

Shares in Thyrocare Technologies dropped after reports that the Maharashtra Association of Resident Doctors (MARD) had alleged that Thyrocare was encouraging cut practice amongst doctors.

Shares in Jubilant Lifesciences were trading higher after the company received ANDA approval for Levetiracetam injection USP.

Midacap stocks also saw good buying support, despite the Sensex and the Nifty ending the day lower.

Biocon was the biggest gainer from the space, along with Federal Bank, Union Bank, Exide Industries and Jindal Steel.

Bharat Forge came in for some selling pressure after reports that the company's North Armerica Class 8 truck orders were down 30 percent at 14,100 units in May.

Gujarat Gas saw some buying support after the company got an authorisation for development of city gas distribution in Amreli Dist, by the PNGRB.

Meanwhile, most of the markets in Europe were trading with gains, while Asian markets also ended the day higher. The rupee was also trading with gains of 66.95 to the US dollar.

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