Sensex Opens Lower On Profit Booking; Banking Stocks Fall

Business

oi-Sunil

By Sunil Fernandes

Published: Wednesday, April 27, 2016, 9:27 [IST]

Benchmark indices slipped below the 26,000 points mark once again, after a solid boost on Tuesday, which saw the Sensex closing at the highest level since the start of the year.

US markets closed steady ahead of the 2-day policy announcement by the US Fed Reserve. The Sensex was last trading at 25,995 points, down 20 points in trade, while the Nifty gained 9 points in trade.

Axis Bank lost heavy ground after a poor set of results. The stock was down nearly 4 per cent in early trade. Nifty gainers were Nifty stocks that lost ground in trade were

Yes Bank was trading marginally higher ahead of its results to be declared later today. Most banking stocks were lower, after Axis Bank reported another poor set of numbers. Shares in ONGC gained 2 per cent, after a spectacular rally in crude prices.

Other gainers were Infratel and Kotak Mahindra Bank. Shares in Yes Bank and Bharti Airtel were both higher ahead of their results to be declared later today.

Banking stocks were trading mixed with IndusInd Bank gaining further ground, while ICICI Bank dipped 2 per cent in trade.

Meanwhile, markets across Asia were trading lower ahead of the US Fed policy announcement.

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