Markets End Higher; Banking Stocks Decline

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It was a rather dull day of trading in the markets, with shares moving in a tight range for most of the day. Global cues were also steady and Indian investors were not willing to take positions ahead of the truncated week. The markets are closed on Tuesday and Wednesday on account of local festivals.

Markets End Higher; Banking Stocks Decline
Benchmark indices ended the day higher, after trading in a range for most of the day. The Sensex closed the day with gains of 21 points, while the Nifty gained 17 points in trade.

PSU Banking stocks led declines in trade with Bank of Baroda and State Bank of India leading the losers in trade.

Union Bank of India too lost almost 2.55 per cent in trade, as PSU Banking stocks saw some selling pressure.

Shares in IRB Infrastructure dropped more than 2 per cent after the company said the Maharashtra State Road Development Corp had terminated the Mumbai-Pune Phase II project awarded to its arm, Mhaiskar Infrastructure Pvt Ltd, in September 2014.

Shares in Steel Strips gained 5 per cent, after the company announced that it had bagged an order for supply of caravan steel wheels for EU Trailer market.

Shares in Tata Teleservice rallied 5.79 per cent, as the company won spectrum in the 1800 mhz band in Mumbai & Maharashtra.

A2Z Infra, an infrastructure construction company rallied 4 per cent after the company bagged an order for Rs 96 crore from Jharkhand Urja Sancharan Nigam.

Read more about: sensex, nifty
Story first published: Monday, October 10, 2016, 15:15 [IST]
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