Indian Markets close lower for sixth straight sesssion - LuvKush Finserve

Markets closed lower for the sixth straight session on Friday amid a volatile trading session dragged by software majors and select financial shares. The Sensex ended at 18,736 down 57 points or 0.30% and the Nifty ended at 5,651 down by 7 points or 0.13%.

On the sectoral front, BSE Consumer Durable, Realty, IT, TECk, Healthcare, Oil & Gas and PSU indices declined between 1-2%. Power, Metal and Capital Goods ended marginally positive. Tata Motors, M&M and Maruti Suziki fell between 0.4-1%.

Tata Motors ended lower on worries that China's new stringent fuel economy norms might affect the company's Jaguar Land Rover (JLR) unit. Two-wheeler firms Bajaj Auto and Hero MotoCorp were among the top Sensex gainers up 2-4% each.

Consumer Durables index was the top loser among sectoral indices on the BSE down 1.8%. Shares of consumer durables were hit on profit taking as valuations seem to be expensive at current levels. Volume growth at most companies in the sector is indicating a drop as consumption levels decline amid high inflation.

Top losers in the index included, TTK Prestige, Titan, Rajesh Exports and Gitanjali Gems. BSE Midcap index slipped by 0.26% whereas BSE Smallcap index closed down by 1%.

Source : Equity Bulls

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