Sensex, Nifty End Lower; Fall For Second Straight Week

Business

oi-Sunil

By Sunil Fernandes

Updated: Friday, March 20, 2015, 15:36 [IST]

The Sensex and the Nifty fell for the second straight week as investors were worried that the last quarter results for FY 2014-15 would be poor. Weak cues from Asia did not help sentiments either. The Sensex ended the day lower by 208 points, while the Nifty ended the day lower by 64 points.

Banking stocks led the losers with stocks like ICICI Bank among the top losers in trade. FMCG major, Hindustan Unilever, which has over the last few weeks seen a stupendous rally, dropped 2 per cent in trade.

The top loser from the Nifty was NTPC which fell a huge 6 per cent. Metal stocks were also slightly weakish in trade with Sesa Sterlite and Tata Steel among the losers.

Investors took shelter in the defensive IT pack as Infosys and Wipro ended the day with smart gains. Other winners in trade were Hindalco and Larsen and Toubro.

Shares in Zicom rallied smartly after RBI allowed NRIs/PIOs to invest up to 24 percent in Zicom Electronic.

Bharat Forge was down despite reports that CLSA had upgraded the stock seeing immense potential in the next two years for the company.

Meanwhile, markets across Asia ended the day mixed with stocks like - among the losers in trade.

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