Markets end lower on GDP forecast - LuvKush Finserve

Benchmark indices have closed the trading session on a lower note as Government disappointed the street by sharply lowering the GDP forecast. The 30-share Sensex ended at 19,580 down 59 points or 0.30% and the 50-share Nifty ended at 5,939 down by 20 points or 0.34%. The Sensex and the Nifty reached an intra-day low of 19,540 levels and 5,928 mark, respectively.

BSE Consumer Durable index slumped by over 3% followed by counters like Realty, Power, Metal, Capital Goods, PSU, Healthcare, Oil & Gas and Banks, all declining by 1% each. However, BSE IT index was up by 1%. Capital goods shares like L&T and BHEL were down by over 1% each. From the Consumer Durable segment, Bajaj Electricals, Rajesh Exports, Titan Inds and Videocon declined between 2-3%.

Metal shares like Sterlite was the top Sensex loser, down nearly 3%. Tata Steel, JSPL and Hindalco slipped between 1-2%.

NTPC slumped by almost 3%, extending its previous day's 2.1% fall, after the government proposes to offload its 9.5% stake in the company through the offer for sale (OFS) route. Tata Power is down by almost 1%. The broader markets underperformed the benchmark indices in trades. The BSE mid-cap index slipped 0.88% and the small-cap index was down 1.34%.

Source : Equity Bulls

Keywords