Nifty breaks 10 day winning streak; ends lower

Posted By:
Subscribe to GoodReturns

Nifty breaks 10 day winning streak; ends lower
The Nifty and the Sensex finally ended the day lower for the first time in 11 trading sessions on profit booking in banking names.

The Sensex ended the day lower by 53 points (provisional), while the Nifty dropped 16 points in trade (provisional). Among the losers in trade were the high beta names including those from the capital goods, infra and banking names.

Among the prominent losers were Bharat Heavy Electricals, Coal India, Gail and ONGC. Banking names that declined included State Bank of India, IndusInd Bank and Punjab National Bank.

However, the biggest damage was in stocks that failed to get a banking license. L&T Finance Holdings fell almost 10 per cent, while other prominent losers were LIC Housing Finance and IFCI.

IDFC on the other hand which received a banking license also dropped in trade. Wockhardt which saw a whooping gain of 20 per cent on Wednesday ended the day with another 8 per cent gain.

Mid cap stocks also saw profit booking in line with the broad markets with notable losers being Reliance Capital, IFCI and Karnataka Bank.

IT stocks were subdued in trade with Infosys ending the day flat while TCS, HCL Tech and Wipro ended the day with losses.

NMDC and Jindal Steel were the few gainers from the Nifty.

Meanwhile, markets in Asia ended the day higher led by gains in the Singapore's Strait Times and the Japanese Nikkei.

Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'