Indian Stock Markets ended the recent rally as the depressing June IIP numbers deteriorated investors sentiment. Also, rating agency Moody's has reduced India's GDP growth forecast to 5.5 per cent for 2012-2012. BSE Sensex closed 40 points lower at 17560. NSE Nifty closed 15 points down at 5322.
Ranbaxy reported loss in Q1 results and the stock took a beating on the stock markets. The stock ended the day at Rs 501 on NSE after touching a low of Rs 496. Bharti Airtel was among major losers in today's session as well. The stock closed 6.42 per cent lower.
Banking major SBI lost ground and closed below crucial 2000 level. The stock ended the day 4.4 per cent lower at Rs 1968.
Tata Motors posted 12 per cent increase in net profit for Q1. The company could not meet expectation of street and the stock close one per cent lower. M&M managed to register good growth on back of higher demand of cars.
Major gainers in today's trading session were M&M, Tata Power and Hindustan Unilever.
European markets were marginally lower. While FTSE and CAC were up, DAX was down by 0.24 per cent.
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