Sensex continues losing streak for eighth straight session - LuvKush Finserve

Markets ended lower on Monday with the Sensex continuing its losing streak for the eight straight session weighed down by profit taking in ITC and select financial shares. The Sensex closed down 24 points at 19,460 & the Nifty gave off 6 points to end at 5,898.

In the broader markets, the smallcap indices underperformed losing 0.35% while the midcap lost 0.2%. Among the sectoral indices, Oil & Gas, FMCG, IT & Capital Goods closed in the negative, down 0.2-0.9%. On the other hand, Realty, Health Care, Power, Bankex and Consumer Durables gained 0.2-0.8%.

The top gainers among the Sensex stocks were Cipla up nearly 4% on reports that the company has postponed plans to acquire a South African firm on account of high valuations. The other notable gainers were Dr Reddys Lab, Hindalco, Sterlite, Hindustan Unilever, Tata Motors up 1-2%.

Among the losers were Maruti Suzuki, ONGC, Jindal Steel, Bharti Airtel, HDFC, L&T and ITC down 1-2%. Hero MotoCorp, ICICI Bank, TCS, Gail India and BHEL down 0.5-0.8% were the other notable losers.

Shares of select PSU companies having government holding more than 75% rallied up to 15% on back of heavy volumes after offer-for-sales of Oil India & NTPC got strong response from the overseas investors.

Source : Equity Bulls

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