Sensex closes down 65 poitns at 19546 - LuvKush Finserve

Markets ended lower for the third straight day on Tuesday weighed down by profit taking in rate sensitives with bank shares leading the decline after hopes of rate cut by the central bank faded. The Sensex ended down 65 points at 19,546 and the Nifty ended down 20 points at 5,919.

BSE Consumer Durables index was the top loser among sectoral indices on the BSE down 1.3% followed by Bankex, Auto, Realty and IT indices. Healthcare index was the top gainer up 1.9% followed by Capital Goods and Power indices.

ICICI Bank, SBI, HDFC Bank and HDFC ended down 0.4-2.1% each. Tata Motors down 2.3% and Reliance Industries ended down 1% at Rs 781. Infosys ended down 0.8% on profit taking after the stock had surged on Monday after Narayana Murthy was appointed at Executive Chairman.

Among other shares, select non-banking financial companies which are likely to foray into the banking space gained in early trades after the RBI on Monday allowed new banking licenses to set up banks. L&T Finance gained 1.8% and LIC Housing Finance rose 1% while SREI Infra Finance gained 1%.

The broader markets outperformed the BSE benchmark index with the mid and smallcap indices gaining 0.5-0.6% as compared to the 0.3% rise on Sensex.

Source : Equity Bulls

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