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    Markets end lower despite FDI sailing through in Rajya Sabha

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    Markets end lower despite FDI sailing through in Rajya Sabha
    Markets ended the day lower despite a favourable outcome to voting for FDI in the Rajya Sabha. The Sensex ended the day lower by 62 points, while the Nifty lost 23 points.
     

    Among the top losers in trade today were DLF, Axis Bank, Sesa Goa, HCL Tech and Tata Steel. Information Technology stocks were the worst hit once again after renewed fears over Infosys Technologies being unable to meet its guidance.

    Along with Infosys, TCS too lost ground in trade today. Banking stocks like HDFC Bank, Axis Bank and ICICI Bank were also subdued in trade.

    Pantaloon Retail which rallied sharply after FDI in retail was passed in the Rajya Sabha, lost ground later.

    Among the Nifty gainers in trade were Mahindra and Mahindra, Maruti, Tata Power, Bhel and Coal India. PSU banking stocks were in the limelight with Bank of Baroda, Punjab National Bank and State Bank of India gaining.

    Shares of Gitanjali jumped after the company reported 15% year-on-year y-o-y growth in its net profit at Rs152 crore for the September quarter.

    Heavyweight, Reliance Industries lost marginally after reports that the company's plant was being shut down for maintenance.

    Meanwhile, European markets were trading flat in trade, while most of the Asian markets ended the day with gains.

    GoodReturns.in

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