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Markets end lower as govt measures disappoint

ECB limit hiked by $10 billion

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Benchmark share indices erased all the day's gains to end marginally lower on Monday as the measures announced by the government failed to meet market expectations.

The 30-share provisionally ended down 112 points at 16,860 and the 50-share ended down 38 points at 5,108.

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(Updated at 14:45 hrs)

have come off the intra-day high levels in the late noon deals as the measures taken up by the RBI and government were below the street expectations. The Sensex has shed 22 points at 16,950 and the 50-share Nifty has shed 11 points to 5,134 levels.

The measures to boost the economy have not come in-line with the street expectations. The government has decided hike the ECB limit by $10 billion and G-secs limit has been hiked to $20 billion from $15 billion earlier.

Meanwhile, European shares fell on Monday as persistent fears about Europe's debt crisis and fresh concerns about global economic growth soured investors' appetite for risk.  The CAC  40, DAX and FTSE have shed 0.5-1.5% each.

Asian markets ended the day on a weak note on concerns about faltering global growth. Nikkei slipped 64 points to close at 8,734, Shanghai Composite, slipped 37 points to 2,224 and the Taiwan dropped 56 points to shut shop at 7,166 levels.

Back home, Hero MotoCorp, Hindalco, Cipla, TCS, ONGC, HDFC Bank and Mahindra & Mahindra are the top losers
from the heavyweight pockets.

On the other hand, Maruti Suzuki is the top gainer among the Sensex stocks, up 2.6% to Rs 1,130. Index heavyweight Reliance Industries
 is also trading higher by 1.3% at Rs 720 after the company said it bought back 900,000 shares at an average price of Rs 710.32 from the open market through stock exchanges under its ongoing share buyback program on Friday, 22 June 2012.

Banking stocks have plunged post the announcement. The BSE bakex has slipped 0.4% to 11,516. IT, PSU, realty, metal, healthcare capital goods and auto indices have also slipped in the red.

The broader markets are trading flat. The BSE mid-cap index is up 10 points at 6,020 and the small-cap index has advanced 32 points to 6,439.

The overall breadth is positive as 1,528 stocks are advancing while 11,39 are declining.

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