Markets Close Lower, Yes Bank Witness heavy Selling

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Indian benchmark indices declined on Tuesday’s trade with the BSE flagship Sensex ending 247 points lower, while the NSE Nifty dropped 80 points, in the wake of weakness across the international markets.

The top loser on the NSE and BSE was Yes Bank, which slipped over 10%, on fundraising worries. On the other hand, BajajFinance and Hindustan-Unilever were the top gainers on both benchmarks.

Cipla, Eicher Motors and Bharti Airtel were the other gainers in the Nifty, while Zee Entertainment, Gail India, JSW Steel and BPCL too were losers in the Nifty.

Among the top sectoral loser was media stocks, driven by Zee Entertainment, Network18-Media and Zee Media which slipped 4 to 5% in range.Get Updated Nifty optioin Tips and best stock to buy alerts subscribe.

The Nifty PSU-Bank was the second sectoral loser, down 1.6%, led by Allahabad Bank, Union Bank, Central Bank of India and Syndicate Bank, between 2.3 to 4.6% in range.

Among stock buzz, shares of PC Jewellers slipped 8% to Rs22.80 after Crisil downgraded the stock.

Shares in Tata Consultancy Service dropped for the second consecutive day and closed lower by 2.15% to Rs2,016.25-per share, on continued selling pressure.

Shares in L&T which witnessed selling pressure in the morning hours has improved in the second half-session and closed a tad higher at 1,276.85-per share, after a downgrade by Motilal Oswal.

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