Markets end lower on election result uncertainty, QE3 tapering fears

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Markets end lower on election result uncertainty
Markets ended the day lower awaiting crucial data like the election results and US non farm payrolls data, particularly worried that an upbeat data on the latter would push the Fed to taper QE3. Read more about QE3 here

The Sensex ended the day lower by 125 points (provisional), while the Nifty lost  41 points in trade. Among the top losers from the Nifty pack was ICICI Bank IDFC, Ranbaxy Labs, Tata Motors and Larsen and Toubro.

Capital goods maker, Bharat Heavy Electricals continued its fine run with the stock ending the day higher again. Other Nifty gainers were Bharti Airtel, Cairn India and Jaiprakash Associates.

Software stocks once again ended the day strong with HCL Tech and Wipro among the gainers. Mid cap stocks which were trading higher for most of the day ended lower after some profit booking emerged in the last 1 hour of trade. HDIL, IFCI, India Cements and Sun TV Network were among the losers.

Wockhardt ended the day sharply lower by 3 per cent on continued worries over the recent US FDA Import alert.

Shares in Mahindra Holidays saw buying interest after the firm divested stake in two Austrian firms. Jyothy Labs jumped more then 6 per cent after reports that the company has allotted 1.5 crore shares to Sahyadri Agencies at Rs 175.15/share on preferential basis.

Infrastructure and capital goods stocks which have been rallying on hopes that a strong showing for the BJP would reignite opportunities for the sector, gave up gains.

Meanwhile, markets in Asia ended the day lower on fresh worries over the US Fed QE3 Tapering. European markets were trading higher after the massive sell-off witnessed on Tuesday.

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