Profit booking drags markets lower; Hindalco, Wipro dip

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Profit booking drags markets lower; Hindalco, Wipro dip
Markets ended the day sharply lower on profit booking and fears that deficient monsoons could further bring down growth rates and increase inflation.

The BSE Sensex ended the day lower by 129 points at 17,489 points, while the Nifty closed the day at 5,306 points.
Gainers in today's trade were Kotak Mahindra, Larsen and Toubro, BPCL and Bank of Baroda, while losers in trade today were Hindalco and Wipro.

Asian markets ended the day mixed with the Japanese Nikkei and the Korean Kospi ending lower, while Singapore's Strait Times, Taiwan Weighted and the Hong Kong's Hang Sang all ending the day higher. European markets which began firmly in the red recovered partial losses with the German DAX trading higher, while the French CAC and UK's FTSE were marginally lower.

Domestically, analysts are awaiting the results seasons, which kicked-off with the result of HDFC which reported a number in line with market expectations.

Infosys Technologies is expected to report its numbers on Thursday. The IIP data figure is also expected on Thursday, though marketmen are expecting a more tepid IIP number.

Read more about: sensex, nifty
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