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Markets End Lower On Weak Global Cues


Markets ended the day lower on the back of weak global cues, as Asian and European markets dropped, following poor closings across the US.


Investors were eagerly awaiting the minutes of the US Fed Meet which will be due later today for further cues on interest rate hikes.

Markets End Lower On Weak Global Cues
The Sensex ended the day lower by 59 points, while the Nifty ended the day lower by 21 points.

Leading the set of losers in trade were stocks IT stocks which saw heavy selling pressure.

Investors continued to worry on the quarterly revenues of these companies, following reports that Royal Bank of Scotland had cancelled orders of Infosys.

Most of these companies had also reported a poor set of quarterly numbers. TCS was the top loser from the space and ended the day lower by 2.5 per cent, while Infosys ended the day lower by 1.5 per cent. Other losers in trade was ITC.

PSU banking stocks had a good day in trade with Punjab National Bank, Oriental Bank of Commerce and Canara Bank gaining 2 per cent each.

Tree House Education was the star in trade today, after its board approved the revised merger norms with Zee Learn. The stock jumped 15 per cent in trade, while Zee Learn itself was up 14 per cent in trade.


Meanwhile, the currency markets were closed for trade today on account of Parsi New Year.

Read more about: sensex nifty
Story first published: Wednesday, August 17, 2016, 15:35 [IST]
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