Nifty Ends 57pts Lower; Metal & Realty Stocks see Selling

Market Frontline indices ended lower on Wednesday with the Nifty closing below 11,500 led down by metal, auto and PSU Bank stocks.

At close, the Sensex stood at 38,557 down by 173-pts, while Nifty50 index slipped 57-pts to end at 11,499. In broader markets, the Nifty Midcap index slumped 1% and Smallcap fell 0.7% each.

On the Nifty50, leading set of gainers were YesBank, Coal India, SunPharma, ICICI Bank and Kotak Mahidnra Bank, whereas losses led by BajajFinance, Indiabulls-HF, BajajFinserv and Tata Steel.

Across sector stocks, the Nifty Realty declined the most, down 1.57% at 275.55 level. Also, the Nifty Metal slumped 1.13% and the Nifty Auto &PSU Bank declined 1.8% each. The Nifty IT and FMCG indices also slipped 0.56% each. The Nifty Financial Services, Pvt Bank and Nifty Bank indices were also in the red.

Among key stocks, shares in TCS were also down 1.31% at Rs.2,105.30 per share after company reported muted quarterly margins.

Bajaj Finance shares slumped 5.11 as Morgan Stanley said it sees 18% downside from current levels in spite of strong loan growth in first quarter, while Tata Motors shares declined 2.50% after JLR reported fall in June sales.

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