Markets End The Day Marginally Lower; SBI And Associates Rally

Benchmark indices ended the day marginally lower as European cues remained weak, amidst fresh debates on whether the US Fed would raise interest rates once again in the month of September.

Asian markets which were trading lower for most part of the day, managed to end the day higher, led by gains in the Japanese Nikkei.

The Sensex ended the day 46 points lower, while the Nifty fell 6 points. It was another flat weekly closings for the market.

State Bank of India led gainers in trade with the stock surging 4 per cent, after the merger scheme announced with its subsidiaries. Most of the subsidiaries ended the day higher led by State Bank of Travancore, which jumped 5 per cent. Among subsidiaries, the only one that lost was State Bank of Mysore, which fell a huge 11 per cent in trade.

All of the PSU Banking stocks had a spectacular run in trade with major gainers being Bank of Baroda and Syndicate Bank.

Shares in Chaman Lal Setia Exports rallied 20 per cent after reports that the board was meeting on August 29, 2016 to consider bonus issue.

Meanwhile, most of the European markets were trading lower with losses of near 1 per cent.

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