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Markets end lower ahead of truncated week of trading


Markets end lower ahead of truncated week of trading
Markets ended the day lower ahead of profit booking amidst a dull day of trade. Volumes were thin ahead of a truncated week following Christmas holiday on Dec 25.

The Sensex ended the day marginally lower by 71 points, while the Nifty ended the day lower by 16 points. Among the top losers in trade were HDFC, which dropped 1.28 per cent on selling pressure in stock.

However, the top loser in trade was Sesa Sterlite which lost ground after reports that the Central Bureau of Investigation (CBI) was investigation the acquisition of Hindustan Zinc.

Tata group stocks including Tata Power and Tata Steel were the other prominent losers in trade.

Among the Nifty gainers were Bharat Heavy, Bajaj Auto, Reliance Industries and State Bank of India. Mid cap stocks saw some buying interest with gainers from the space being Infra and capital good stocks including Voltas, Crompton Greaves, Tata Chemicals and SunTV Network.

However, Apollo Tyres continued its fantastic run rallying 7 per cent in trade.

PSU banking stocks were once again in the limelight with notable gainers being Canara Bank, Punjab National Bank, Oriental Bank and Andhra Bank.

GMR Infra rallied 2 per cent after reports that Malaysia Airports will buy 40 per cent stake in Istanbul Airport from GMR Infrastructure.

Ultratech Cement also had a spectacular rally gaining after the CCI approved its buyout of 1.73 per cent in the company.

Meanwhile, Asian markets ended the day higher led by gains in the Hang Sang and the Australian All Ordinaries.

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