Sensex, Nifty end lower; pharma stocks rally

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Sensex, Nifty end lower; pharma stocks rally
The Sensex and the Nifty ended the day lower led by losses in heavyweights ONGC and Reliance.

The Sensex ended the day with losses of 106 points, while the Nifty lost 22 points in trade. Pharma shares were in the limelight in trade with Sun Pharma, Ranbaxy Labs, Cipla seeing sharp gains in trade.

Other notable winners in trade were HCL Tech and Grasim. Shares in Bhushan Steel continued to languish at the lower end of the circuit filter as investors worried over the huge debts on the company's books.

The hardest hit today in trade were Oriental Bank of Commerce and Dena Bank shares, which fell after a reported scam in the banks. Both the stocks dropped by three per cent in trade.

Shares in HDFC and ITC continued to extend losses for a third straight day. Shares in Eros International rallied as much as 8 per cent on reports that the company has acquired world wide rights of Zee TV shows.

Mid cap stocks ended the day with losses with stocks like GMR and Jain irrigation among the losers in trade.

Private sector banking stocks ended the day with little changes and almost flat.
Meanwhile, markets in Europe were trading with losses after rallying in the last few trading sessions.

Read more about: sensex, reliance, bhushan steel, dena bank
Story first published: Wednesday, August 20, 2014, 15:40 [IST]
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