Markets Close Lower As Oil Prices Gain Momentum
Stock markets ended lower on Tuesday, dragged by auto and banking stocks. Subdued trades in Asian markets and surging crude oil prices also capped gains. The 30 share Sensex settled at 38,565, down 80pts, whereas Nifty50 ended at 11,576, falling 18pts ONGC, Zee Entertainment, SunPharma, Coal India and Bajaj Finance were toppers on the Nifty while Maruti Suzuki, Yes Bank, Tata Steel and IndusInd Bank, fell the most on the index. Nifty Auto skid the most, down 1.49pc with major falls in Maruti Suzuki, HeroMoto Corp, and Motherson Sumi pulled the auto index. The Nifty Bank and Nifty Pvt Bank fell 0.7pc each. Nifty FMCG, IT and Pharma indices ended the day in the green zone. The top losers of the 30-scrip Sensex kitty were MarutiSuzuki, YES Bank, Tata Steel, among others. Shares of Zeel closed 3.20pc, after hitting an intraday high of 6pc after global brokerage maintained an Outperform rating on the stock with the price target Rs540 apiece. Free Intraday Trading tips, MCX Free Tips, Commodity tips and Stock Tips Read the full article