Indian indices end on mixed note - ICICI Bank : Treasury Research

Indian stock market benchmark indices ended on a mixed note today amidst weak cues from European peers. The Sensex touched a 2-month high of 20,256.60 intraday but ended the session only marginally higher on the back of profit booking by investors. The Nifty meanwhile, ended the session lower. Gains in IT stocks, specifically TCS (following its robust Q1 FY2014 earnings detailed post-market hours yesterday) were offset by losses in capital goods and power shares. In the corporate earnings front, HDFC's results fell below analyst estimates while index major Reliance Industries posted positive results. The Sensex ended higher at 20,149.85 (+0.11%) while Nifty closed lower at 6029.20 (-0.15%).

The BSE Bankex ended lower at 12,543.48 (-1.84%). SBI ended lower at INR 1814.10 (-0.57%) while ICICI Bank ended down at INR 959.05 (-2.64%).

Asian equities ended mostly lower today. Nikkei closed lower by 1.48% amidst caution ahead of the Upper House elections scheduled over the weekend. Australia's ASX ended lower by 0.43%, dragged by mining and bank stocks. Kospi also declined by 0.22% on the back of selling by foreign investors. Shanghai Composite fell by 1.52%, closing lower for the third consecutive session, dragged by realty shares. Hang Seng, however, managed to close marginally higher by 0.08%. Meanwhile, post market hours, China announced the removal of floor on bank lending rates, citing that the reform would help lower costs for companies.

Source : Equity Bulls

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