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Sensex, Nifty end lower again on weak global cues

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 Sensex, Nifty end lower again on weak global cues
It was a third straight day of losses on the Nifty making it a bad start for the markets in 2014. The Nifty ended the day lower by 10 points at 6211 points.

 

Among the top losers in trade were the banking stocks, while technology held the day for the markets. ICICI Bank, shed 0.3 per cent in trade, while other banking stocks like IndusInd Bank and State Bank of India also lost ground. Tata Power and Mahindra and Mahindra were the worst hit from the Nifty with the former dropping as much as 4 per cent in trade.

Sales numbers at Tata Motors which disappointed ensured that the stock ended the day lower on selling pressure. The stock of Maruti Suzuki meanwhile continued its impressive run and ended higher once again.

IT stocks were the stars in trade today with Infosys Technologies, Tata Consultancy Services and HCL Tech among the gainers.

PSU Banking stocks managed to hold ground in trade with notable gainers being Bank of India and Punjab National Bank.

Mid cap stocks like Voltas and Crompton Graves, which have been having a good run in the last few weeks shed heavy ground. However, Aurobindo Pharma continued to see buying interest and the stock ended the day higher by as much as 4 per cent.

However, some other pharma stocks like Cipla and Dr Reddy's lost ground in trade today.

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