Nifty Ends Lower, Bharti Airtel Top Loser

Benchmark indices ended the day lower, as global cues continued to remain weak. Dow Futures pointed to sharp cuts for the US markets, which pushed major indices across the globe lower.

The Nifty ended the week lower by almost 2.4 per cent, as Covid cases around the globe continued to impact sentiments. For the day the Nifty lost 28 points.

Among the top losers from the Nifty was HeroMoto Corp, Bharti Airtel, Bajaj Finance, Eicher Motors and Kotak Mahindra Bank. Shares in Indian Oil gained ground after the company reported a very good set of results. Net profits of IOC surged almost 4 times to Rs 6227 crores, following inventory gains.

Dilip Buildcon too saw some buying support and ended higher after the company informed the exchanges that its wholly-owned subsidiary 'Dodaballapur Hoskote Highways Pvt. Ltd.' has executed the concession agreement with the National Highway Authority of India.

Banking stocks which have had a spectacular rally over the last few weeks managed to end lower, with the Bank Nifty seeing cuts of nearly 1 per cent. Kotak Mahindra Bank and ICICI Bank were among the top losers from the Nifty space.

Meanwhile, European markets were trading flat, while Dow Futures pointed to lower openings for the US markets.