Nifty Ends Lower After Six Straight Days Of Gains

The Nifty ended the day lower in trade, after having gained for six straight trading sessions. Metals and Banking stocks saw some decent gains, even as IT stocks continued to put pressure on the markets.

The Nifty ended the day with losses of 94 points to end the day below the 10,800 points mark at 10,705 points. Leading the set of gainers in trade were some of the banking stocks like IndusInd Bank and State Bank of India. In fact, the former was the top gainer from the Nifty jumping as much as 6 per cent. Other notable gainers were Vedanta, Hindalco and JSW Steel.

Among the Nifty stocks that lost ground were Zee Entertainment, HCL Tech, Eicher Motors and Asian Paints.

Shares in ICICI Bank ended the day 2 per cent lower ahead of fund raising plans to be announced by the bank. IT Stocks were weak in trade today with Infosys and TCS, joining HCL Tech lower.

Meanwhile, most European markets were trading slightly negative, though Dow Futures were pointing to higher openings. The rupee too ended the day lower for the third straight day.