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Sensex Ends Flat After Tuesday's Fall; Banking Stocks Continue Decline


Benchmark indices ended the day flat, after a huge drop seen on Tuesday, following a global sell-off.

The Sensex ended the day with gains of 17 points at 24,900 points, while the Nifty gained 11 points in trade. Banking stocks, which saw huge selling pressure on Tuesday ended the day mixed. ICICI Bank dropped in trade, along with Punjab National Bank and Axis Bank.

Sensex Ends Flat After Tuesday's Fall; Banking Stocks Continue Decline
However, select banking stocks like Federal Bank, Yes Bank and IndusInd Bank gained ground.

Software stocks like Infosys, HCL Tech and Wipro were weak in trade on sustained selling pressure. TCS was among the few tech stocks that gaiend in trade.

Shares in SKS Microfinance rallied after the company expressed confidence over its loan growth.

Metal stocks had a superb day in trade with Tata Steel among the top gainers, along with Hindalco and Vedanta.

Shares in Ashoka Buildcon were locked at the lower end of the circuit filter, after reports that Enforcement Directorate and Income Tax department conducted joint searches at company's Nashik office. The stock dropped 20 per cent in trade.

Tata Motors too rallied after reports of the launch of its new vehicle Tiago and also robust sales of JLR in the domestic markets.

Larsen and Toubro, which had seen a huge fall on Tuesday, managed to recover some lost ground and ended the day higher.

Meanwhile, markets across Asia ended the day mostly higher, with only the Shanghai Composite ending with very small losses.

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