Sensex, Nifty end lower on weak global cues

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Sensex, Nifty end lower on weak global cues
The Sensex and the Nifty ended the day lower on the back of weak global cues. The Sensex closed the day lower by 37 points at 25,190 points, while the Nifty fell 9 points in trade. Banking stocks took a hit after WPI data came in higher than expected.

Axis Bank, ICICI Bank and Canara Bank were all among the losers in trade. However, IT stocks rallied after the rupee fell below the 60 levels. Among the IT stocks that gained were Infosys, TCS, Wipro and HCL Tech.

Tata Motors ended the day lower after the Economic Times reported that the company was temporarily halting production at its Gujarat plant for 35-40 days on account of lower demand.

Select mid cap stocks had a bad day in trade with NHPC, Oriental Bank, Siemens and Jubilant Foods being among these.

Shares in Axis Bank were down sharply extending their recent losses after LIC sold a huge chunk of shares in the bank in the last few days.

Select infra stocks continued to grind lower. Among these were GMR Infra, Gammon Infra, HCC and IRB Infra.

Oil marketing company stocks which had fallen in the past after the increase in oil prices ended the day lower. Among the losers in trade were HPCL, BPCL and Indian Oil.

Meanwhile, markets in Europe were trading lower led by losses in the German DAX, French CAC and the UK's FTSE.

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