Nifty Closes Lower For Third Straight Day; Tata Motors, Tech Mahindra Fall Sharply

The Nifty ended the day lower for a third straight day dragged down by heavyweights Infosys and Tata Motors.

The Nifty ended the day lower by 4 points, while the Sensex gained 33 points. Shares in Tech Mahindra fell a huge 14 per cent after its results hugely disappointed the streets. Tata Motors fell almost 5 per cent after results lagged estimates.

Banking stocks were the star performers in trade with stocks like Axis Bank, Union Bank of India, PNB and Canara Bank being among the gainers on hopes that the RBI would cut interest rates in its next policy meet.

Bharat Heavy Electricals also gained ground following a good set of numbers. Sun Pharma was down despite Taro reporting a good set of numbers.

D B realty ended the day lower by 5 per cent after the company reported a loss. Allcargo Logistics was up in trade after reports of a tie-up with Alibaba.

ONGC climbed ahead of its earnings to be delivered later on Thursday.

The India Index Services & Products (IISL), an arm of NSE, says it will bring down the number of stocks on its benchmark index for the IT sector to 10, according to reports.

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Story first published: Wednesday, May 27, 2015, 15:38 [IST]

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