Sensex ends lower on weak global cues, falling rupee

Markets ended the day sharply lower in trade as a falling rupee and weak cues from Asia dragged the indices lower. The Nifty lost 56 points, as investors worried that the Federal Reserve would withdraw stimulus earlier then expected following strong data from the US.

Among the top losers from the Nifty were oil and gas stocks including BPCL and ONGC, which fell on concerns of the falling rupee. Other stocks that lost ground in trade were Jaiprakash Industries, HDFC, NTPC, Axis Bank and Tata Motors.

Among the stocks that gained ground in trade were Indusind Bank, Reliance Infra and Cairn India. IT stocks were in the limelight following sharp gains in the rupee. Notable gainers from the space were HCL Tech and Infosys.

PSU banks continued to slide lower with notable losers being IDBI, Union Bank and Andhra Bank. Realty stocks also fell in line with the broad markets with Oberoi Realty losing more then 3 per cent in trade, while Indiabulls and Unitech lost more then 2 per cent each.

Pharma shares ended the day mostly higher with Sun Pharma, Dr Reddy's and Ranbaxy Labs among the gainers.

Meanwhile, markets in Asia ended lower, while Europe was trading with gains of almost 2 per cent.

GoodReturns.in

Story first published: Monday, July 8, 2013, 15:32 [IST]

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