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Sensex Ends Sharply Lower As Global Markets Crack Again


Benchmark indices ended the day sharply lower led by losses in banking stocks as global markets continued to remain weak.

The Chinese Shanghai Composite which rallied after the People's bank of China cut interest rates, fell at close and ended 1.5 per cent lower.

Sensex Ends Lower As Global Markets Fall Despite China Rate Cut
European markets were also trading weak, which pushed Indian indices lower. The Sensex ended the day with losses of 317 points, while the Nifty lost 88 points in trade. Check Sensex gainers and losers

Banking stocks were a drag on the Sensex with State Bank of India and ICICI Bank among the big losers. Other stocks that lost ground in trade were Hero Motor Corp, Mahindra and Mahindra and Bharti Airtel from the Nifty.

Tata Group stocks like Tata Motors, Tata Consultancy Services and Tata Power led gainers in trade. Mid cap stocks which have been battered during the course of the week, saw some buying interest with stocks like Emami, Mind Tree and Jubilant Foods among the major gainers.

Shares in logistic companies also gained ground on hopes that the government would call a special session to get GST passed. Among the stocks that gained were Allcargo, GATI, Gateway Distriparks and VRL logistics.

Oil and gas stocks ended the day sharply higher after crude oil prices recovered marginally. Cairn India and Indian Oil were the biggest gainers from the space.

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