Markets end lower

Reliance Ind, TCS, HDFC among top Sensex losers

Markets ended marginally lower after consolidating for most part of the trading session amid profit taking at higher levels after recent gains. Meanwhile, the Rajya Sabha has voted in favour of the government for foreign direct investment in multi-brand retail.

The Nifty had touched 20-month high on Thursday after the UPA-led government late  Wednesday won the Lok Sabha vote on allowing FDI in multi-brand retail.

The 30-share Sensex ended down 94 points at 19,393 and the 50-share Nifty ended down 35 points at 5,896.

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(Updated at 14:27 hrs)

Benchmark Indices are trading in a tight range with negative bias ahead of key FDI vote in Rajya Sabha later today that will decide the fate of economic reforms in Asia's third-biggest economy.

By 1420 hrs, the Sensex was down 18 points at 19,467 and the Nifty slipped 10 points to 5,921.

On the global front, Asian markets are trading on a mixed note. European markets have opened flat.

Back home, BSE Realty index has tumbled by almost 2% followed by counters like IT, Metal, TECk and Banks, all falling down by nearly 1% each. However, BSE Consumer Durable index is up by almost 1%.

Shares of Information technology (IT) companies have extended the losses for third day in a row after Cognizant Technology Solutions said that it expects 16% revenue growth in 2013 as against its projected 20% growth for the current year 2012. TCS and Infosys are down by 1% each.

Meanwhile, Infosys' dollar revenue growth outlook of 5% for the year ending March 2013 could be under threat, Chief Executive S D Shibulal was attributed as saying by UBS in an investor meet.

From the Metal segment, Sterlite is the top Sensex loser, down almost 2%. Tata Steel is down over 1%.

Banks and financials which are proxy to the economy are also witnessing some selling pressure. HDFC, HDFC Bank and ICICI Bank are down between 0.4-1%. British lender Barclays said yesterday the Reserve Bank is likely to leave the policy rates unchanged at the December 18 review and that a lending rate cut may happen only in the January policy announcement.

Other prominent losers include Cipla, HUL, NTPC, Sun Pharma, DRL and ONGC.

On the winning side, Maruti Suzuki is the top Sensex gainer, up almost 2%. The stock touched a one-year high level after the company said it will increase the prices of its vehicles across all models by up to Rs 20,000 from January.

Tata Power, BHEL, M&M, Bharti Airtel, Coal India and Tata Motors are other prominent gainers.

Among others shares, Claris Lifesciences has dipped 4% to Rs 264, declining over 6% from day’s high after the company said it has sold its infusions business for Rs 1,050 crore on slump sale basis.

Meanwhile, BSE Midcap and Smallcap indices are almost flat. The market breadth in BSE remains slightly positive with 1,434 shares advancing and 1,375 shares declining.