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Nifty Ends Lower, Gives-Up Day’s Gains

Sunil Fernandes

After trading with gains for most of the day, benchmark indices, the Nifty and the Sensex both ended the day marginally lower.

Asian cues were strong and most markets there closed with gains after China's manufacturing activity came in much better than expectations, which managed to drive sentiments across Asia.

The Nifty ended the day lower by 10 points at 10,302 points, just above the 10,300 points mark. GIC Housing Finance shares fell more than 4 per cent after the company reported a decline in its net profit to Rs 26.40 crore for the fourth quarter ended March 31.

Raymond too saw its share price end almost 3.5 per cent lower after the company reported a consolidated net loss of Rs 69.10 crore for the fourth quarter ended March 2020.

Top Nifty gainers were Mauri, Nestle, Shree Cements and ICICI Bank. Oil marketing companies had a bad day in trade with Indian Oil and BPCL both among the top Nifty losers. PSU banking stocks were seeing weakness with State Bank of India ending lower, along with stocks like Bank of Baroda and Punjab National Bank.

Meanwhile, most of Europe was trading with marginal gains, while Asian markets ended the day higher.

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