Markets end lower on Monday led by broad-based selling pressure - LuvKush Finserve

Markets ended lower on Monday led by broad-based selling pressure witnessed in metal and mining stocks after China said to tighten its mortgage rules to cool the property market. The Sensex fell 40.56 points to end at 18,877.96 while the Nifty dropped 21.20 points to end at 5,698.50.

Among sectors, barring bankex, rest all declined with consumer durable, real-estate, capital goods, metal leading the drop on BSE. Among individual stocks, Bharti Airtel rose 1.6%, Dr Reddy's gained 1.5%, HDFC and ICICI Bank rose 0.4-0.8% while SBI was up 0.5%, Reliance Industries added 0.5% on BSE.

The laggards included, metal stocks with Jindal Steel, Hindalco and Sterlite Industries slumping over 3-5%, HUL declined 3%, Larsen & Toubro dropped 2.6%, Bajaj Auto and Maruti Suzuki shed 2-2.4% on BSE.

Among other notable movers, Bajaj Auto fell over 2% after reporting 3.3% yoy fall in total sales at 332,997 units in February 2013. The company had sold total 343,777 units in the same month of previous year. The broader markets traded lower with mid-caps and small-caps falling 1.3-1.9% on BSE.

Source : Equity Bulls

Keywords