Sensex Ends Lower For Fifth Straight Day

By Sunil Fernandes
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    Benchmark indices ended the lower dropping for the 5th straight day in a row. Strong global cues with a bounce in European indices failed to make an impression on the markets.

    Sensex Ends Lower For Fifth Straight Day
    Indices
    The Sensex ended the day lower by 30 points, while the Nifty lost 7 points in trade. Leading the set of gainers from the Nifty was Bharti Airtel which jumped along with HDFC and GAIL.

    Metal stocks were weak in trade as Chinese data came in worse than expected. Tata Steel, Hindalco and Sesa Sterlite fell in trade.

    Shares in oil marketing companies rallied after crude oil prices slumped. An upgrade on stocks like HPCL and BPCL by a leading foreign broking firm also pushed these stocks higher.

    Banking stocks were a complete drag on the indices with Punjab National Bank, ICICI Bank, Bank of Baroda, State Bank of India. Among the losers
    Auto stocks were also weak in trade with Tata Motors and Eicher Motors.

    Meanwhile, markets in Europe which had fallen sharply in trade recovered lost ground and were trading higher.
    Most of Asia closed with modest gains in trade.

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