Markets End Lower; Sensex Holds 28,000 Points

Benchmark indices ended the day lower, led by losses in Reliance Industries, which fell despite reporting a good set of quarterly numbers.

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Benchmark indices ended the day lower, as profit booking in heavyweights, pushed the indices lower.

Markets End Lower; Sensex Holds 28,000 Points
The decline was despite global markets, like the European markets trading higher. The Sensex ended the day with losses of 52 points, while the Nifty lost 8 points in trade.

European stocks gained marginally, after the ECB squashed talks regarding its future monetary policy. The ECB had kept interest rates steady in its policy meet on Thursday, which was largely in line with expectations.

Shares in heavyweight, Reliance Industries dragged the markets lower and the stock fell more than 2 per cent. This was despite the company reporting a good set of results.

Cipla and Hindalco were the other losers in trade. Nifty stocks that managed to gain ground were HCL Tech, which rallied as much as 1 per cent, after the company reported a good set of quarterly numbers.

This also led to buying interest in some other tech stocks like Infosys and TCS. Another stock that was star of the day was Nucleus Software, which rallied as much as 16 per cent, after the company's net profits for the quarter ending Sept 30, 2016 soared.

Career Point was also among the smaller stocks that rallied after reports that the company got Rs 35 crore towards asset sale transaction.

Among the banks, IDBI Bank continued to rally on hopes of a foreign entity buying a stake in the company.

Meanwhile, the rupee was seen trading steady at 66.88 to the US dollar. Check and convert currency rates here

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Read more about: reliance, sensex, nifty
Story first published: Friday, October 21, 2016, 15:15 [IST]
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