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Markets end lower on weak cues; Infy up ahead of results


Markets end lower on weak cues; Infy up ahead of results
Markets ended the day marginally lower ahead of results from IT major Infosys Technologies. The Sensex ended the day lower by 4 points, while the Nifty lost 6 points in trade.

Among the top gainers from the Sensex were the PSU stocks led by NTPC, Coal India and ONGC. Other stocks that rallied in trade were Dr Reddy's Labs, Jindal Steel and Power, while Sesa Sterlite was the star performer from the Sensex.

The top BSE Sensex losers were Larsen and Toubro, Wipro, ACC and Hindalco Industries.

Infosys ended the day flat ahead of its results to be declared on Friday. Banking stocks were weak ahead of the inflation data due mater next week. Among the banking stocks, the PSU banking stocks were the worst hit with notable losers being Canara Bank, Union Bank, Bank of India and Bank of Baroda.

Gold loan companies were the star performers in trade today with Muthoot Finance and Manapuram both ending the day 20 per cent higher, after the RBI increased the loan to value for gold loan borrowers.

Shares in Maruti Suzuki ended the day lower even after hitting a 52-week high in trade. Mid cap stocks did not have a very good run in trade with the index ending in the red. Shares in Voltas, GMR and Aurobindo Pharma all dropped by more then 3 per cent in trade.

Meanwhile, markets across Asia ended the day with losses with the Japanese Nikkei and the Hang Sang seeing sharp cuts in trade.

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