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Closing Bell: Market Rebounds To End With Gains For 5th Straight Day; Sensex & Nifty Soar Led By Banks
Sensex, Nifty End Lower; Private Sector Banking Stocks Gain
The Sensex and the Nifty ended the day lower with markets trading in a range for most of the session after having been rangebound for most of the day.
The Sensex ended the day lower by 45 points, while the Nifty ended the day lower by 17 points. Leading the set of gainers were private sector banks like Axis Bank and ICICI Bank.
PSU banking stocks were subdued after the 2-day Gyan Sangam meet. Stocks like Syndicate Bank and Andhra Bank saw some reaction to their stock prices.
Shares in Tata Steel were up after reports that the Noamundi iron ore mine of Tata Steel has resumed production after a gap of nearly four months. Shares in Coal India were trading lower after reports that the company had missed its production targets.
Select mid cap stocks saw some selling pressure with Voltas and Unitech among the losers. Fedders Lloyd rallied a huge 7 per cent after the company bagged orders worth Rs 107 crore from Odisha Power Transmission Corporation.
Meanwhile, markets in Europe were trading flat, while Asian markets ended the day with marginal losses.
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