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Stock Markets Today; FMCG, Banking Witness Selling

Sensex, Nifty indices ended lower after clocking record highs, after the three consecutive record-setting sessions on profit booking. The BSE index ended lower by 84.96 points at 38,251.80 and the NSE index Nifty50 down 25.65 points at 11,557.10. The NSE index hit a high and low of 11,602.25 and 11,532.75, respectively during the session.

The losses in Nifty were driven by weakness in financials, banking, auto and FMCG (Fast Moving Consumer Goods) stocks.  Nifty Metal Index followed by Nifty Media managed to end the session on a positive note.  Nifty Metal index ended at 3,481.20, up 1.88% in trade.

Among Sensex stocks, Vedanta, ONGC, Axis Bank and Wipro gained up to 4%, while YES Bank come out as be the top index loser, down by 3.52% at Rs 374.65.

Shares of Reliance Industries continued its five-day winning rally after its 8 crore market capitalization.  The stock closed today higher by 0.66 percent at Rs. 1278.

HDFC Asset management Company reported strong performance in its quarterly figures for the quarter ended June 2018. The Company’s revenue rose by 20% year on year Rs. 471 crore. The stock closed with 3.39% gains at Rs. 1,896.90 on Friday.