Indian markets end lower on Wednesday - LuvKush Finserve

Markets ended lower on Wednesday, amid a rangebound trading session, weighed down by profit taking in Larsen & Toubro after the company reported disappointing fourth quarter earnings. The sensex ended at 20,062 down 49 points or 0.25% and the nifty ended at 6,095 down by 20 points or 0.32%.

On the sectoral front, BSE Realty and Capital Goods indices slumped between 3-4% followed by counters like Oil & Gas, PSU and Power, all slipping by 1% each. However, BSE FMCG index gained by nearly 1% each.

L&T dipped nearly 6%, falling 7% from intra-day's high after reporting a 7% year-on-year (y-o-y) drop in net profit at Rs 1,788 crore for the quarter ended March 31, 2013 (Q4) due to higher finance cost. The engineering major had profit of Rs 1,920 crore in a year ago quarter.

Other notable losers were Tata Power, Sterlite, RIL, GAIL, BHEL, Hero Moto and ONGC. On the gaining side, Sun Pharmaceutical Industries moved higher by 3%, crossing Rs 1,000 mark, at Rs 1,002 on the NSE. Meanwhile, BSE MIdcap index slipped by 0.83% whereas BSE Smallcap index ended lower by 0.82%.

Source : Equity Bulls

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