Markets End Lower As European Cues Remain Weak; Infy Slides 4%

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Benchmark indices ended the day lower, as European markets remained weak, following worries over global growth and fears of the possibility of Brexit from the Euro.

Deep cuts in heavyweight Infosys, also pushed benchmark indices lower. In fact, the software major fell 4 per cent lower, after the company said that margins could be hit in the coming quarters. The Sensex ended the day lower by of 257.20 points, while the Nifty down by 69.45 points in trade

Markets End Lower As European Cues Remain Weak; Infy Slides 4%

Apart from Infosys other notable losers were heavyweights ITC and TCS. PSU banking stocks were the clear winners in trade with PNB rallying almost 4 per cent, while other stocks that gained ground from the PSU banking space were Oriental Bank, Syndicate Bank, Andhra Bank and Allahabad Bank.

Shares in BPCL rallied after the Reserve Bank of India hiked FII limit in the company to 49 per cent. Metal stocks were having a splendid day in trade with Hindalco and Vedanta being among the gainers.

ONGC gained ground following a rise in crude oil prices. Dr Reddys, however, fell after reports of an Agency accusing the company of drug packaging violations. The stock ended more than 2 per cent lower in trade.

Among the non index stocks shares in Eros International rallied 4 per cent on sustained buying support. Shares in Vipul gained ground after the company sold 26 percent of flats in phase-I of Aarohan project, Gurgaon worth Rs 303 crore.

Meanwhile, the rupee was trading at 66.56 to the US dollar. Check and convert currency rates here

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Read more about: sensex, nifty
Story first published: Thursday, June 9, 2016, 14:27 [IST]
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