Sensex, Nifty end sharply lower on F&O expiry

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Sensex, Nifty end sharply lower on F&O expiry
The Sensex and the Nifty ended the day sharply lower on expiry for the May series of the Futures and Options segment. The Sensex ended the day lower by a huge 321 points, while the Nifty fell 94 points in trade.

The top loser from the Nifty was Infosys Technologies which fell after the company's President Srinivas quit the company. The stock ended the day lower by almost 8 per cent in trade.

Other Nifty stocks that fell were Wipro, Maruti Suzuki, HDFC Bank, Jindal Steel and Power, Hindalco and HDFC.

Shares in Tata Global Beverages declined after the company reported a drop in its net profits. The stock ended the day lower by 5 per cent in trade.

Nifty stocks that saw buying interest in trade were Dr Reddy's, Hindalco, Mahindra and Mahindra and Axis Bank.

PSU banking stocks were once again in the limelight with notable winners being Allahabad Bank, Bank of India, IDBI Bank and Syndicate Bank.

Mid cap stocks which have seen a sharp surge in the past few weeks before and following the elections, saw some selling pressure. Jain Irrigation, Crompton Greaves, Bata India, Adani Enterprises and Ashok Leyland were among the losers.

HPCL which reported a good set of Q4 numbers ended the day one per cent higher. Shares in SPIC also rallied after its company's profits came in better than expected.

Meanwhile, markets across Asia ended the day mixed, while most of Europe was trading lower. Among the European market which were trading with losses included the German DAX and the French CAC indices.

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