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Sensex Ends Lower; Posts Third Straight Weekly Loss


Benchmark indices ended the day lower led by declines in heavyweight IT stocks like TCS and Infosys. Global cues which were poor, following a sharp slide in commodity prices, did not help sentiments. Reports that the US Fed was all geared to hike interest rates in the US in Dec, only added to the pain.


Sensex Ends Lower; Posts Third Straight Weekly Loss
The Sensex closed the day with losses of 256 points, while the Nifty fell 66 points in trade. Coal India was the top gainer from the Nifty stocks jumping more than 2 per cent in trade.

Apart from IT stocks, the metal pack also saw declines on a drop in commodity prices. Vedanta and Hindalco were the top losers from the space.

Shares in recently listed InterGlobe Aviation continued to see sustained buying support. The stock was up another 6 per cent in trade. However, another recent listing Coffee Day Enterprises, which runs the renowned Cafe Coffee Day chain had no such luck and continued to fall.

Eros Entertainment was locked at the lower end of the circuit filter after fresh allegations against the company. The company was alleged to have overstated revenues, which have been denied by Eros.

Mid cap stocks also fell in line with the benchmark stocks, with Jubilant Foodworks and Voltas leading the losers. However, Jindal Steel rallied a huge 8 per cent and was the top Midcap gainer in trade.

Meanwhile, Europe was trading marginally lower, while Asian markets saw cuts of nearly one per cent, following a poor lead from the US.

Read more about: sensex nifty tcs eros
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