Stock Markets down due to lower IIP numbers; Banks, Auto, Pharmaceutical stocks end lower
Indian Stock markets closed lower on Tuesday as IIP numbers disappointed traders and technical analysts. Among major losers were Infrastructure, Banking, Technology and Pharmaceutical stocks.
Cipla, Sun Pharmaceuticals, Ranbaxy Labs, Glenmark and Matrix Labs were among major loser in Pharmaceutical sector.
BSE Midcap Index lost 47 points and closed at 5935. Small cap stocks index was also down by 0.7%.
Real Estate counters were trading lower as selling continued. Unitech, Peninsula Land, Indiabulls Real Estate were among major losers.
Maruti Suzuki, Tata Motors and Escorts were down in Auto Sector.
If the global cues remain positive, Indian stock markets may see a pullback tomorrow. US Stock markets are expected to remain positive as Oil prices continued their slide. Gold Prices were trading low as well.