Nifty ends July series at 7721, Sensex falls 1%; banks dive

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Doubts about the health of Europe's economy dominated trade on its major stock markets on Thursday after a cautious message from the US Federal Reserve did little to stem the dollar's charge to 10-month highs.

A steady rise for the US currency is the central story for global financial markets so far this month and a jump in U.S. economic growth reported on Wednesday extended the dollar's gains against the euro to 6 cents since early May.

The Nifty ended July series F&O at 7721.30, down 70.10 points or 0.90 percent at 7721.30. The Sensex fell 192.45 points or 0.7 percent at 25894.97. About 1431 shares advanced, 1488 shares declined, and 122 shares were unchanged.

Banks were hurt most in today's trade. Bank Nifty dragged over 1 percent. HDFC twins, SBI, ICICI Bank and Axis Bank were top losers in the finacial counter. Among the losers in the Sensex were NTPC, M&M and Tata Power. Cipla, Tata Steel, GAIL, Coal India and Bajaj Auto were on buyers list today.

Cipla, Tata Steel, GAIL, Coal India and Bajaj Auto were on buyers list today.

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