Markets closed on a jittery note. IT giants TCS, Infy remained top losers

The Nifty posted modest losses but closed at the day's low as investors remained net sellers despite a strong bounce back on Chinese equities and Asian markets. The trend ahead is likely to be governed by major earnings, starting with software giant Tata Consultancy Services.

The Nifty ended the day at 8,328 points, down 34.50. Its Advance-Decline Ratio stood at 11:14 with Tata Motors, TCS and Infosys being the top losers on the Index. BHEL, Larsen & Toubro and Hero Motors were among the stocks that led the gainers list.

On the Bombay Stock Exchange, the Sensex fell 114 at 27,573 points. Hindalco, Bharti Airtel and Lupin posted modest gains while Vedanta, Bajaj Auto and NTPC ended with losses on the Index, whose Advance-Decline Ratio was 3:4.

Quite a lot of positive action was witnessed in the mid cap financial/banking space. LIC Housing Finance, Union Bank, Bank of India and Reliance Capital posted strong gains. Allahabad Bank, Dewan Housing and Oriental Bank of Commerce were among the top gainers on the Futures and Options space.

Although the broader market ended in negative territory, there was a dash on green on some sectors such as the CNX PSU Bank Index and CNX Infrastructure index. Traders and investors are buying beaten down valuations in such industries.

(Image credit: Indiatimes)