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Benchmark indices ended lower but off day's low on the back of buying seen in the last hour of trade.
The Sensex was down 35.78 points at 39031.55, while Nifty was down 6.50 points at 11748.20. About 721 shares have advanced, 1780 shares declined, and 149 shares are unchanged.
Yes Bank, Indiabulls Housing, IndusInd Bank, Bharti Infratel and Hero Motocorp were among major losers on the Nifty, while gainers were JSW Steel, HCL Tech, IOC, Zee Entertainment and BPCL.
Among the sectors, Nifty PSU bank declined more than 3 percent followed by auto, FMCG, infra and pharma, while some buying seen in the energy, IT and metal indices.
HEADLINES OF THE DAY
Godrej Properties has said it does not have plans yet to acquire stake in any real estate business - CNBCTV18
Bombay Dyeing has fallen more than 9 percent intraday. The exchange has sought clarification over reports of Promoter Director Ness Wadia getting a 2-year sentence in Japan for possession of drugs.
Kotak Mahindra Bank's has reported Q4 net profit at Rs 1,408 crore, up 25 percent YoY. Net Interest Income (NII) has increased to Rs 3,048 crore from Rs 2,580 cr in Q4FY18. Net Interest Margin (NIM) for Q4FY19 was at 4.48 percent.
Godrej Properties has fallen almost 4 percent intraday after the company announced raising Rs 2,500 crore by way of equity and debt.
Hero MotoCorp falls 3 percent after Q4 profit tanked 25 percent YoY. However, global brokerages maintained their ratings on the two-wheeler maker. Though, Citigroup and CLSA slashed their respective 12-month target prices.
The crucial resistance for Nifty spot is now seen at 11840 and above this 11960 Support for the immediate term is now placed at 11580 next support will be 11460.
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