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Sensex closes in red; banks, airlines top losers

The Indian equity markets ended the day in the red with the Sensex closing 45 points lower (0.26 percent) at 17,384.40 and the Nifty closing at 5253.75, (0.9 percent) lower due to the continued political turmoil over the CAG report on coal block allocation as the parliament session was disrupted for nine days in a row.

Additionally, the Morgan Stanley muted review of India's GDP growth of 5.1 percent in 2013 added as a dampener. India's fiscal deficit during the April-July period rose to Rs 2,64,000 crore or 51.5 percent of the full fiscal year 2012-13.

The Bank Index was hit the most on dashed hopes of a rate-cut. Both ICICI Bank and HDFC Bank were down close to a percent.

 Sensex closes in red; banks, airlines top losers

Agencies

The aviation stocks including Jet Airways, SpiceJet and Kingfisher were down after oil marketing companies increased fuel rates by more than 7 percent. Both Jet and Spicejet were down close to 5 percent while Kingfisher closed 3 percent lower.

Stocks in News

United Breweries was up almost 4 percent after reports said that promoter Vijay Mallya might be going ahead with the Diageo deal.

Zee Entertainment was down close to 2 percent after the BNP Paribas downgrade.

JSW Steel was down close to 4 percent after Bank of America Merill Lynch maintained a 'underperform' on the stock on value dilution post the JSW Ispat merger.

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Updated Date: Dec 20, 2014 19:44:33 IST

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