Sensex, Nifty sink on weak global economic data

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The Sensex and the Nifty ended the day sharply lower as global economic data raised concerns of fragile economic recovery. The Sensex ended the day lower by 340 points, while the Nifty fell 100 points in trade. Leading the set of losses from the Nifty and the Sensex were shares from the metals space led by Hindalco and Jindal Steel.

Other prominent losers fom the Nifty were heavyweights ITC and HDFC. However, Infosys which reported a stellar set of numbers for Q2 2014 rallied and ended the day higher by 6 per cent. Other IT stocks, however, could not keep the pace and ended the day lower led by TCS and Wipro.

Sensex, Nifty sink on weak global economic data
Select mid cap stocks saw some selling pressure with Unitech and Bharat Forge ending 5 per cent lower. However, GMR was a star in trade ending 4 per cent higher.

Shares in escorts were up after the company annouced a restructuring excercise.
Hindustan Zinc ended 2 percent lower after the company says mined metal production of zinc in Q2 down 4 percent.

Meanwhile, markets in Europe were down a huge 2 per cent, with German DAX down a whopping 200 points. the French CAC and the UK's FTSE were also down in trade.

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