Markets end lower on Tuesday - LuvKush Finserve

Markets reversed early gains and slumped in late-noon deals to end lower on Tuesday weighed down by profit taking in FMCG and select bank shares. Consumer durables, realty and capital goods were the key draggers in trades. The Sensex ended below the 20K mark once again at 19,982 down 120 points and the Nifty ended at 6,049 down by 34 points. The Nifty had touched fresh 2-year highs during the day topping the 6,100 level.

All the sectoral indices were in the negative zone. BSE realty index was the top loser - down 2% at 2,235. Consumer durables, capital goods, PSU and IT indices declined around half a per cent each.

Shares of fast moving consumer goods (FMCG) giant Hindustan Unilever (HUL) witnessed a knee-jerk reaction in the later part of the trading session as the company's board approved a royalty of 3.15%. On the BSE, stocks of HUL ended at Rs 482 - down 2.8%.

Stocks of listed retail companies such as Pantaloon, Shopper's Stop and Trent were up in morning trade on the Bombay Stock Exchange (BSE) following Foreign Investment Promotion Board (FIPB) clearance received by Swedish major IKEA for its Rs 10,500 crore investment in the country. This is the largest investment proposal in the single brand retail category so far.

Source : Equity Bulls

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