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Nifty ends lower; TCS, HCL Tech surge

Nifty ends lower; TCS, HCL Tech surge
Tata Consultancy Services: Quotes, News
BSE 2096.35BSE Quote13.1 (-0.62%)
NSE 2095.45NSE Quote13.3 (-0.63%)
HCL Technologies: Quotes, News
BSE 1061.60BSE Quote12.35 (-1.16%)
NSE 1062.70NSE Quote9.55 (-0.90%)
Markets ended the day flat despite a sharp jump in the price of technology major Tata Consultancy Services which reported better then expected results.

The Nifty ended the day with losses of 9 points. The top gainers in trade were those from the IT pack with Infosys and HCL Tech being the other winners apart from TCS.

Fast Moving Consumer Goods major, Hindustan Unilever which was up for most of the day lost ground and closed marginally lower.

Banking stocks continued to have a bad trade with private sector names like Kotak Mahindra, Axis and HDFC Bank and ICICI Bank and IndusInd Bank losing ground. PSU banking stocks saw selling pressure with notable losers from the space being Allahabad Bank, Andhra Bank, Union Bank and Canara Bank.

Indian Hotels fell 3 per cent after reports that NSE would drop the stock from the F&O segment with effect from September 27.

Hanung Toys on the other hand rallied after the company received an export order from the US. Bajaj Auto, which reported numbers today gained 4 per cent after its results beat analysts expectations. HDFC, however, lost ground despite reporting a sharp increase in net profits.

Asian markets lost ground with most of the markets ending in the red.

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