Indian Equities end lower on Wednesday - ICICI Bank : Treasury Research

Indian equities ended lower today, despite firm cues from Asian peers after further depreciation in the Rupee intraday weighed on expectations of a rate cut by the RBI in its next policy meeting. Selling pressure was seen mostly in rate-sensitive stocks like automobiles, banking and realty. The Sensex ended lower at 18,552.12 (-0.41%) while Nifty closed at 5588.70 (-0.36%).

The BSE Bankex ended lower at 12,659.01 (-1.03%). SBI ended lower at INR 1900.70 (-0.73%) while ICICI Bank ended down at INR 1026.85 (-0.62%).

Asian equities ended in mixed territory today. Nikkei ended lower by 1.04%, after a stronger Yen weighed on exporters' stocks. Shanghai Composite continued its losing streak, closing lower by 0.41%. Hang Seng however, ended higher by 2.43%, aided by financials while Australia's ASX closed up by 1.63% led by mining stocks. Kospi also ended the day higher by 0.16%.

Source : Equity Bulls

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