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Markets end lower on QE3 worries, inflation data

Markets end lower on QE3 worries, inflation data
Markets ended the day lower for the third straight day, with the Sensex and the Nifty dropping on worries that the Fed might start tapering its QE3 programme later this month. CPI inflation data which is due at 5.30 pm IST also left investors worries.

The Sensex has now eroded almost all of its gains after the spectacular rally of Monday, following the BJP's strong showing in the state elections.

The Sensex ended the day lower by 258 points (provisional), while the Nifty lost 71 points in trade. Among the top losers today in trade today were heavyweights ICICI Bank, Reliance Industries and Tata Motors. The latter dropped almost 4 per cent, despite a sterling global sales performance by JLR.

Other losers from the Nifty were Coal India, Dr Reddy's and Tata Consultancy Services. Nifty gainers in trade today were HDFC, DLF and Lupin Labs.

PSU banking stocks continued to trade weak with notable losers being Andhra Bank, Bank of Baroda, Allahabad Bank and Canara Bank.

Real estate stocks were in the limelight with the index ending in the green with buying interest in stocks like Oberoi Realty, Godrej Properties and Anant Raj.

Mid cap stocks saw some buying interest in trade with Bata India, Mcleod and Reliance Power among the gainers.

Tata Teleservices jumped almost 6 per cent after reports that the Tata group will inject Rs 4,000 crore in Tata Teleservices.

Meanwhile, almost all of the Asian markets ended the day in the red. Among the top losers were the Japanese Nikkei and the Jakarta Composite.

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