Benchmark indices ended the day lower in a volatile session of trade with the Sensex ending the day lower by 78 points, while the Nifty ended the day lower by 21 points. Leading the set of gainers from the Nifty and the Sensex were stocks like Hindustan Unilever which rallied a huge three per cent, while other winners were Infosys, Bajaj Auto and Maruti.
ITC lost almost three per cent in trade after the government decided to ban sale of loose cigarettes. Banking stocks continued to see selling pressure despite WPI Inflation coming in lower than expected raising the prospects of an interest rate cut.
Among the prominent losers in trade were Punjab National Bank which lost a huge 3 per cent, while other losers were ICICI Bank, Bank of India and Canara Bank. Yes Bank managed to gain ground after a good set of results.
Among small and mid cap stocks Mirza Tanners saw a sudden buying interest and the stock rallied a huge 5 per cent in trade.
Meanwhile, markets in Europe were trading lower on fears of falling crude prices.