Sensex, Nifty Fall; HDFCs, Kotak Bank Lag

Equity markets ended lower for the third consecutive day today with HDFC Bank and the HDFC Ltd were the top losers on both indices.

The BSE Sensex closed down 306-pts at 38,031, while NSE Nifty was down 82-pts at 11,337. Bajaj Finserv, HDFC Ltd, Kotak Mahindra Bank, Eicher Motors and HDFC Bank were among major Nifty losers , while gains were led by Yes Bank, Vedanta, Hindalco, Indiabulls Housing and Zee Entertainment.

Sectorally, Nifty Banks and FMCG gauges ended lower (-1.66% & -1.05%) each, while buying seen in the metal (up 1.75%), pharma, (up 1.75%) energy, (up 1.13%) auto. (up0.42%) and IT (up 0.30%).

Shares of HDFC Bank fell 3.07% to Rs2302.80per share after the lender’s Q1 profit rose slightly lower than market estimate.

Shares of KotakMahindra Bank also lost 3.60% to Rs.1444.90-per share ahead of its earnings later today.

Shares of Ambani-led Reliance Industries (RIL) gained 2.33% to Rs.1278.10-per share, at close after posting good quarterly earnings.

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