Nifty ends below 5250...SBI, Bharti drag

Unabated selling continues on Thursday as the Nifty extended its losing streak to fifth straight trading session. Having said that, the Auto, Power and the Pharma stocks saw some buying, however, the Telecom, IT and the Realty stocks continued to get hammered. Today’s fall was seen despite food inflation showing a considerable decline as compared to the previous week. India's weekly food articles inflation fell to 13.07% as against 17.05% week on week.



"Inflation numbers did have a knee jerk reaction with the NSE Nifty bouncing back from day’s low, however, the rebound was short lived. In the coming days the weakness may prevail, a lot would depend upon the IIP data to be announced tomorrow," says Amar Ambani, Head of Research (India Private Clients) - IIFL.

The BSE Sensex lost 130 points to close at 17,463 and the NSE Nifty fell 28 points to end at 5,226.

The BSE Teck index was the top loser, the index lost 1.5%, followed by BSE IT index down 1.5% and BSE Realty index down 1%. On the other hand, BSE Auto index was up 0.8% and BSE Power index was up 0.8%.

The European indices were trading in the red, the DAX in Germany was down 0.7%, and the CAC 40 index in France was down 0.8% and FTSE index was down 1.1%.

Reliance Infra, JP Associate, SAIL, Ranbaxy, IDFC, Tata Motors, Sun Pharma, RCOM, Reliance Capital, ITC, Kotak Mahindra Bank, ACC, Suzlon, ACC, Suzlon, DLF and GAIL were among the notable leaders in the Sensex and the Nifty.

Bharti Airtel, Infosys, Sterlite, HDFC, Dr. Reddy's, Hindalco, BHEL, RIL, PNB, Wipro, HUL, NTPC, Power Grid, TCS, Cipla and Jindal Steel were among the notable laggards in the Sensex and the Nifty

Outside the frontline indices, the big losers in the broader market Tata Comm, Indian Hotels, United Spirits and Petronet LNG. On the other hand, gainers included LITL, GMR Infra, Jain Irrigation, Dish TV and Ashok Leyland.