Markets End The Day Lower; Sensex Drops Below 28,000 Points

Benchmark indices ended the day lower, as heavyweight ITC, dragged the markets down. Some profit booking was seen after the stupendous rally seen on Tuesday.

European markets fell with the German Dax and the French CAC dropping in trade, while mixed data from China, saw subdued closings across Asia. Most of the global markets, saw a stellar rally on Tuesday and it was time for some profit booking today.

The Sensex ended the day lower by 66 points, while the Nifty lost 18 points in trade.

Earnings had its own impact on individual stocks. Mangalore Chemicals and Fertilisers jumped 15 per cent after the company turned profitable for the quarter.

Endurance Technologies saw a blockbuster listing, with the stock up over 36 per cent in trade on the first day. The stock ended the day higher at Rs 644, against the issue price of Rs 472-473.

Fertilizer stocks were in the limelight today with stocks like Zuari Agro, Chambal Fertilizers and RCF gaining ground.

Among the non index stocks, Gitanjali Gems fell a huge 8 per cent in trade at Rs 68 per share.

Meanwhile, markets across Asia ended the day mixed, while most of Europe was trading with losses. The rupee was last seen trading at 66.69 to the US dollar.

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