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Sensex Ends Lower As Investors Fret Over P-Note Restrictions

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Benchmark indices ended the day lower in trade, as investors remained worried over the latest P-Note Restrictions placed by SEBI.

P-Notes are one of the instruments through which foreign funds investors in the country. They are generally used by hedge funds who are not registered with the SEBI.

 Sensex Ends Lower As Investors Fret Over P-Note Restrictions
The Sensex ended the day lower by 97 points, while the Nifty dipped 34 points in trade.
 

Shares in SpiceJet plunged 10 per cent, after the company's quarterly profit took a beating.

Leading the set of losers in trade were banking stocks, which dropped sharply. Andhra Bank and Syndicate Bank were the major losers from the PSU bankign space.

However, Karnataka Bank bucked the trend after its net profits for the quarter ending March 31, improved dramatically. The stock ended higher by almost 5 per cent.

ONGC continued to gain ground on a rally in crude prices. Other notable gainers in trade were Vedanta and NTPC.

Shares in Sundaram Fasteners gained ground after the company reported a good set of quarterly numbers.

Midcap stocks also fell in line with the broad markets, with major losers from the space being GMR Infra, IDFC and Engineers India.

Meanwhile, markets across Asia ended the day with gains, while most of Europe was trading higher.

The rupee continued to weaken in trade and was last trading at Rs 67.47 to the US dollar.

GoodReturns.in

Read more about: sensex nifty
Story first published: Friday, May 20, 2016, 15:31 [IST]
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