Sensex, Nifty End Lower As European Markets Slide

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Benchmark indices ended the day lower for the fourth straight day as weak European cues pushed indices lower.

Sensex, Nifty End Lower As European Markets Slide
The Sensex ended the day with losses of 69 points, while the Nifty ended the day lower by 20 points as investors sold heavily into heavyweights.

Leading the set of losers in trade was Bharat Heavy Electricals, which lost a huge 2 per cent, while other losers in trade were Reliance and Sun Pharma.

Two of the heavyweight pockets including IT and banking were drags on the index. ICICI Bank and HDFC Bank were among the Nifty banking losers, while Infosys and Wipro lost ground from the IT space.

Among the gainers in trade from the Nifty was NTPC which finally saw a short covering bounce after dropping sharply in the last few trading sessions.

Hindalco Industries which has also seen selling pressure saw a sharp bounce in trade. Jindal Steel, however, fell a huge 7 per cent after the company's bids for select coal mines were rejected by the Government.

Cairn India lost ground as crude prices continued to slide. Amtek Auto was the top loser from the auto space. Select PSU banking stocks like Punjab National Bank and Bank of Baroda saw buying interest at lower levels.

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