Sensex Ends Below 27,000 Points; Infosys Falls 4% Post Results

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    Benchmark indices dropped in trade despite solid cues from Asia as profit booking was seen in Infosys, despite the company reporting a good set of numbers.

    The Sensex ended the day lower by 175 points at 26,904 points, while the Nifty lost 46 points in trade to close at 8143 points. Bank of Baroda was the biggest loser from the Nifty after Infosys with the stock sliding more than 4 per cent in trade after reports that one of the bank's branch was involved in a forex scandal.

    Sensex Ends Below 27,000 Points; Infosys Falls 4% Post Results
    Indices
    Most other banking stocks remained resilient and managed to close the day flat. Banking sector stocks are likely to react to consumer price inflation numbers due later today along with industrial output numbers.
     

    Inox Wind gained ground in trade after the company bagged an order of 50 MW from Tata Power Renewable Energy.

    Metal stocks continued to be on a roll, following robust cues from China. Vedanta and Hindalco, which were the biggest gainers last week continued to rally. Both the stocks were up between 5-7 per cent in trade. NMDC also had an excellent session in trade and ended up more than 3 per cent.

    Midcap stocks saw some selling pressure in trade with Emami closing the day lower by almost 5 per cent, while Indian Hotels was down 3 per cent.

    Meanwhile, markets across Asia closed higher led by 3 per cent gains in the Shanghai Composite. Most European markets were trading mixed with the German DAX higher in trade, while the French CAC and the UK's FTSE were lower.

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