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Markets end lower; Banking stocks fall

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Indian Benchmark indices slipped in trade, amid  spike in Covid-19 cases. On Monday, Covid cases climbed by near 4,000, despite lockdown was eased.

The BSE Sensex closed the day lower by 261-pts at 31,453 points, while the NSE Nifty slipped 88-pts. Major losers included SBI, Bajaj Finance, Britannia, Asian Paints and Tata Motors while Bharti Infratel, Mahindra and Mahindra, PowerGrid, ONGC and Reliance Industries were among major gainers.

Banking and NBFC stocks also slipped with SBI, Bajaj Finance and Axis Bank among the losers in trade.

Adani Ports closed the day lower 1.43-pc ahead of Q4FY20 being declared later, while Reliance Industries Ltd (RIL) closed by 1.92-pc higher at Rs. 1,462.65 –per share. Get the updated  Best stock to buy and best stock tips  from the expert.

Liquor stocks like United Spirits and United Breweries slipped as the Delhi state govt increased the taxes on liquor sales