• Indian share indices ended lower on Friday on weak global cues and FII selling on
fears of more interest rate hikes by RBI in its policy review to curb high inflation.
• IT stocks were the movers of Nifty with TCS (the top gainer), HCL and NIIT
ending up 1-5%.
• However, stocks of auto, real estate, and FMCG pulled the indices down with Tata
Motors, Bajaj Auto, Sterlite, Sesa Goa and HUL, ending 1-2% down.
• DB Realty ended 0.6% lower on news that the Pimpri Chinchwad New Town
Development Authority has annulled the bidding process for a township project,
which the company's joint venture was to develop.
• Among financial stocks, ICICI Bank, HDFC and Kotak Mahindra Bank declined 1-
2% while that of HDFC Bank ended up 0.6% ahead of its Apr-Jun earnings next
week.
• Among other stocks, SKS Microfinance and VST Industries surged 10% and 9%
respectively.
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