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Third Straight Day Of Losses For Sensex; TCS Sheds 4.5%

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Benchmark indices ended the day lower as losses in IT major TCS and HUL were a drag on the indices. The Sensex closed the day lower by 66 points at 26,780 points, while the Nifty closed lower by 24 points.

Third Straight Day Of Losses For Sensex; TCS Sheds 4.5%
Indices
Leading the set of losers apart from TCS were stocks like Tata Motors, Hero Motor Corp and ICICI Bank.
 

Shares in most IT services were soft following the TCS results, though, Infosys managed to hold ground after a sharp 7% loss in the last 2 trading sessions.

Check Sensex gainers and losers

Metal stocks continued to see a superb bounce in trade with stocks like Tata Steel, Hindalco and Vedanta among the day's top gainers.

Midcap stocks also ended the day flat, though stocks like Century Textiles, GSPL and Kansai Nerolac gained ground in trade.

One of the biggest losers in trade from the non index space was Development Credit Bank (DCB), which crashed to the lower end of the circuit filter, following worries over expansion plans raised by a domestic brokerage firm. Shares in Hindustan Unilever fell marginally, following its Q2 numbers. Zee Entertaintment on the other hand lost almost 3 per cent as results lagged estimates.

Shares in Sun Pharma ended the day with gains, following Taro Pharma's acquisition of Canadian company Zalicus.

Banking stocks were also subdued in trade with ICICI Bank and Canara Bank among the biggest losers. Bank of Baroda lost ground following reports of reported arrests with regards to the recent forex scam at the bank.

Meanwhile, markets across Asia ended the day with losses, while most of Europe was trading sharply lower. The German DAX, French CAC and the UK's FTSE were all down more than 1 per cent.

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