Home Uncategorized Sensex Ends Slightly Lower As Banks Drag, HUL Surges 8pc

Sensex Ends Slightly Lower As Banks Drag, HUL Surges 8pc

0

The BSE Sensex and Nifty ended slightly lower today led by selling pressure in some banking stocks on rejig in MSCI India index.

The Sensex ended 16 points lower at 24,217 while Nifty fell 5 points to 7,229. Banking stocks lead the fall, with NSE sectoral sub index declining over 1.5 per cent. HDFC Bank, HDFC, Bank of Baroda, and SBI fell between 2 per cent and 3.9 per cent.

Shares in Tata Motors fell over 2 per cent after its earnings missed some analysts’ estimates.
Among gainers, HUL rose close to 8 per cent to Rs. 600. Shares of Aurobindo Pharma rose 4.7 per cent to Rs. 667.70 after its inclusion in the MSCI index.

However, shares in defence equipment makers rallied on media reports of potential increase in foreign direct investment limit in the sector from current 26 per cent.
Bharat Electronics gained 2.2 per cent, BEML surged 7 per cent and Pipavav Defence and Offshore Engineering rose 5 per cent.