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Sensex Ends Lower As European Indices Slide

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Indian stock markets dropped in trade as European markets saw steep cuts, with the German DAX, French CAC and UK's FTSE seeing severe selling pressure.

Benchmark indices ended the day lower as investors were tentative ahead of a 2-day meet by the US Fed Reserve beginning on Tuesday.

 Sensex Ends Lower As European Indices Slide
The Sensex closed the day at 25678.93 points, while the Nifty dropped 44.25 points in trade. Shares in Reliance Industries dropped more than 2 per cent on reports that the commercial launch of Jio might be delayed. Investors worried over the capex enhancement at the company.
 

Metal stocks were the biggest losers in trade with Hindalco and Vedanta among the shares that fell the most along with NTPC.

Cairn India too dropped following a poor set of quarterly numbers. The stock was down 3.5 per cent in trade after reporting heavy quarterly losses.

Among the few stocks that gained ground from the Sensex were Bharti, Bajaj Auto and TCS. PSU banking stocks saw heavy selling pressure. Bank of Baroda dropping 3 per cent in trade, while Oriental Bank also lost three per cent and Syndicate Bank also fell 3 per cent in trade.

The Mid cap index lost 1 per cent as selling in government owned banks dropped the indices lower.

Meanwhile, Asian markets dropped lower, while most of Europe was trading with losses.

GoodReturns.in

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