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Sensex Snaps 6-Day Winning Streak, Banking Stocks Decline


Benchmark indices ended the day lower, breaking a 6-day winning streak, in which the indices gained almost 12 per cent.

Global cues were weak, with the European markets trading lower, while the Dow Futures suggested a weakish opening for the US markets.

The Sensex ended the day lower by 128 points at 33,981 points, while the Nifty lost 32 points in trade. Banking and finance stocks were the biggest drags on the index with some of the heavyweights like HDFC, ICICI Bank and HDFC Bank falling.

Sensex Snaps 6-Day Winning Streak, Banking Stocks Decline

Among the Nifty stocks that gained were Vedanta, Zee Entertainment and Tech Mahindra. On the other hand the losers were IndusInd Bank, Asian Paints and Bajaj Finance.

Reliance Industries gained almost 2 per cent in trade, after the successful completion of the company's rights issue.

HDFC Life saw its shares rally after reports that UK's Standard Life was to have sold 4 crore shares in the company today.

Shares in Aurobindo too jumped, after the company reported a sharp rise in net profits. PNB Housing was locked at the upper end of the circuit filter with only buyers in the counter.

Meanwhile, in the currency market the rupee ended the day lower, at 75.57 against the U.S. Dollar as compared to Wednesday's close of 75.47.

Read more about: sensex banking stocks
Story first published: Thursday, June 4, 2020, 15:42 [IST]
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