Stocks closed lower for a second-straight day; Banking, Metal drag

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Equity benchmark indices ended in the negative territory as losses seen in banks, Auto, FMCG, and Metal stocks. The BSE Sensex declined 202 points at 41,257 and the NSE Nifty closed at 12113-mark, down 61 points.

Yes Bank, Bharti-Airtel, Bharat Petroleum Corp, UPL and HCL Technologies were among top gainers on the Nifty-fifty.

On the downside, Gail India, Bharti Infratel, IndusInd Bank, Eicher Motors and Power-grid slipped the most.Get more information best equity advisor in india visit our website.

The PSU Bank Nifty dropped 2 percent dragged by Jammu & Kashmir Bank which shed near 5 percent followed by Indian Bank, and UCO Bank slipped by 3.60 percent each.

The metal stock too led losses as their main sub-index-Nifty Metal index closed up 1.43 percent. Hindustan Copper dropped the most, lower by 8.46 percent, followed by SAIL, MOIL, and NMDC, down by over 3 percent each.

FMCG, Auto and Realty sectors also witnessed selling by the index dripping up to 1.26 percent.

Among the stocks impacted to results, India Tourism Dev Corp (ITDC) climbed 2.52 percent to Rs.317.50-apiece, after the company registered Profit before Tax (PBT) at Rs.22.44-cr, an increase of Rs10.42-cr from a year-ago-period.

Nestle India slipped marginally lower on closing, with the share price at Rs.16,345.10, down by Rs.67.10 from the previous closing, even after the FMCG major on Thursday reported a net profit of Rs.473.02-Cr up 38.4- percent on a year-on-year basis.

Shares in Vodafone Idea slipped 22.22 percent to Rs.3.50-apiece after the telecom company reported a net loss of Rs.6439-Cr for the Q3FY20.

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