Border Tensions Weigh On Markets, Sensex Ends Lower

Benchmark indices ended the day lower, as border tensions continued to weigh on the markets. A clash between Indian and Chinese troops at eastern Ladakh resulted in 20 Indian soldiers being killed.

Investors were unwilling to take bets at higher levels, given the volatile situation along the border. The Nifty, which traded higher for most of the day, gave-up all gains and ended the day lower, with a loss of 33 points. The Sensex too dropped and ended at 33,507 points.

Bharti Infratel, Kotak Mahindra Bank, Bajaj Finserv and Mahindra and Mahindra were the top losers from the Nifty. On the other hand the gainers in trade were Maruti, IndusInd Bank and Axis Bank.

Reliance Industries, which has for the last few weeks lent support to the indices and also hit record highs, ended the day lower. Shares in Yes Bank ended the day 3 per cent lower, after unconfirmed reports suggested that the bank was planning a $1 billion through a public offering.

Shares in HDFC AMC fell as much as 4 per cent, after the offer for sale by one of the promoters was completed.

Natco Pharma saw its shares fall after the company reported a decline in net profits. Meanwhile, most of the European markets were trading flat, while Asia ended with losses.