Sensex, Nifty Trade Lower; Banking Stocks Gain

Posted By:
Subscribe to GoodReturns

The Sensex and the Nifty opened the day higher led by gains in banking stocks a day after the Reserve Bank of India (RBI) cut interest rates, but, could not hold gains and dropped lower.

The Sensex was trading with losses of 12 points, while the Nifty lost 6 points in trade. Leading the set of gainers from the Nifty were stocks like Cipla and Sun Pharma.

Sensex, Nifty Trade Lower; Banking Stocks Gain
Banking stocks were showing a mixed trend in trade with HDFC Bank gaining ground, while ICICI bank and Punjab National Bank lost ground.

Metal stocks continued to be the clear losers in trade with NMDC, Sesa Sterlite and Tata Steel among those that continued to lose ground.

Stocks that gained ground in trade apart from the pharma stocks was ITC and FMCG major, Hindustan Unilever.

Midcap stocks also saw some buying interest with Jubilant Foodworks and Bharat Forge among the gainers.

Shares in Pipavav Defense fell sharply after reliance Infrastructure announced a stake buy in the company. The stock was down 10% in trade.

Meanwhile, markets across Asia were subdued after weak closings in the US market. The Japanese Nikkei and the Shanghai Composite were trading with marginal losses.

Read more about: sensex nifty
Story first published: Thursday, March 5, 2015, 9:59 [IST]
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'


Get Latest News alerts from Goodreturns

We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more