For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    Markets end lower; IT Stocks drag

    |
     Markets end lower; IT Stocks drag
    Markets ended the day lower with IT heavyweights dragging indices lower on fresh worries over growth prospects. The S&P CNX Nifty ended the day lower by 18 points, while the Sensex lost 72 points.
     

    Telecom major Bharti Airtel came in for heavy selling pressure after its associate Bharti Infratel's IPO received a subdued response.

    The stock ended the day with losses of more than 3%. Tata Consultancy services also uncharacteristically fell more than 2.5% ahead of an analysts meet to be held later today. Investors sold the stock on fears that the company may paint a gloomy outlook for the future. Infosys, another IT heavyweight also fell as fresh worries that it may lower its revenue guidance further.

    Other Nifty stocks that lost ground in trade were BPCL, HDFC Bank, HDFC, Wipro and BHEL. Stocks that saw buying support and ended the day with gains from the index stocks included those from the metals pack including Hindalco, Jindal Steel and Sesa Goa. Analysts expect metal stocks to do well, if economic growth gathers steam.

    Kingfisher Airlines, which last week hit the upper end of the circuit filter, today hit the lower end of the circuit filter over fresh worries that Etihad would pick a stake in Jet Airways and not Kingfisher.

    Shares of Fortis Healthcare surged more than 6% after reports that it would to divest a stake in Dental Corporation to Bupa for Australian dollar 270 million.

    Glodyne Technoserve jumped 5% after reports that the company's arm got a multi-million dollar services order from a US company.

    Meanwhile, most of the markets in Asia ended the day lower on fresh worries over the fiscal cliff in the US. However, the Chinese and the Japanese markets ended with gains. Markets in Europe were firmly in the red at the time Indian markets closed.

    GoodReturns.in

    Read more about: sensex nifty
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more