Indian Indices snap 3-day winning streak - LuvKush Finserve

Benchmark share indices snapped three-day winning streak, amid a volatile trading session, weighed down by oil and gas share after recent gains post the government's decision to steeply hike domestic natural gas price. Weakness in financial shares also dampened market sentiment. The Sensex ended down 114 points at 19,464 and the Nifty closed 41 points lower at 5,858.

Realty Index was the top loser among the sectoral indices on the BSE down 1.8% followed by Oil and Gas, Bankex, Auto, IT and Capital Goods. Gainers include Consumer Durables and Healthcare indices. Bank shares ended lower after 26 companies submitted their applications to the RBI for bank licence.

Further the Finance Minister P Chidambaram has said that there was no ceiling on the number of entities which can be permitted to operate a bank. SBI, HDFC and HDFC Bank ended down 1.2-1.4% each.

Sensex gainers include, ICICI Bank, Bharti Airtel, TCS and BHEL. Among other shares, Lupin ended up 3.1% at Rs 801 in an otherwise weak market on the National Stock Exchange (NSE) on overseas acquisition report. Elder Pharmaceuticals surged 3% to end at Rs 344 after the company said its UK arm NutraHealth has acquired Max Healthcare Ltd to re-enter over-the-counter (OTC) pharmaceutical business for an undisclosed amount. In the broader market, the BSE Mid-cap ended down 0.4% and the Small-cap index ended 0.1% lower.

Source : Equity Bulls

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