The benchmark BSE Sensex ended 36 points down on selling by funds, particularly in banking stocks after ICICI Bank posted lower-than-expected fourth quarter earnings.
The 30-share Sensex, which fell by more than 200 points early in the day, staged a strong comeback toward the fag-end of the session on emergence of buying at lower levels along with short-covering.
The index ended 36.21 points down at 13,872.37 points. It had lost 320.30 points on Friday.
However, on the wide-based National Stock Exchange, Nifty ended in the positive zone with a marginal gain of 4.40 points at 4,087.90 after dipping to 4,028.90 points earlier in the session.
Stock brokers said shares of major banks came under selling pressure and plunged between 2-10 per cent after ICICI Bank posted lower-than-expected fourth quarter results, triggering selling.
Besides, concerns of capital raising plans by the country's second largest lender dampened trading sentiments.
With the effect, the BSE banking index dropped by 203.99 points, or 2.88 percent at 6,882.89 points.
Shares of ICICI Bank plunged Rs 67.75 at Rs 865.90, HDFC Bank by Rs 9.65 at Rs 1026.15 and Oriental Bank of Commerce by Rs 16.10 at Rs 197.15. - DDNews India
Comment and add to the story without registration, but keep the comments meaningful please. Links are not accepted.
