Indian Markets ended lower on Thursday - LuvKush Finserve

Markets ended lower on Thursday following the expiry of July derivative contracts weighed down by profit taking in FMCG shares after recent gains. ITC led the decline after the stock gained nearly 20% in the past one month followed by Hindustan Unilever which had gained 21%. The Bombay Stock Exchange's Sensex closed at 19,805 down 286 points. The National Stock Exchange's Nifty closed at 5,908 down 83 points. The Sensex and Nifty touched an intra-day low of 19,764 mark and 5,896 levels, respectively.

The rupee rose by 40 paise to 59.10/dollar on fresh dollar selling by banks and exporters, tracking a weakness in the US currency overseas.

On the sectoral front, BSE FMCG index dropped by over 3% followed by counters like Power, Metal, Capital Goods, Healthcare, PSU, Bankex and IT, all declining between 1-2%. However, BSE Auto and TECk indices gained marginally.

Capital Goods shares continued to exhibit a weak trend post disappointing results from L&T. L&T and BHEL declined between 2-3%. On the gaining side, Hero MotoCorp rallied by over 4% after reporting 100 bps improvement in operating margins at 14.8% for the first quarter ended June 30, 2013 on sequential basis due to 10% q-o-q decline in other expenditure.

Source : Equity Bulls

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