Indian markets ends lower; IT stocks rebound earlier losses
Eicher Motors was trading at Rs 22,399.95 down by 66 points or 0.29% despite its Royal Enfield selling around 53,378 motorcycles in the month of July this year, a growth of 31% from the similar period of the previous year.
Larsen and Toubro slumped by 53.55 points or 3.44% to Rs 1504.45 despite of winning orders worth Rs 1167 Crores. However, the company opened at Rs 1561 higher from its previous closing of Rs 1558.
Maruti Suzuki surged over 111 points or 2.35% to Rs 4866.90 on reporting robust July sales. Maruti Suzuki- the one of the largest carmaker in India, has sold 1,37,116 units in July, 2016, registering growth of 12.7% compared to 1,21,712 units in the corresponding period of the previous month.
Information Technology sector finally makes a comeback after slumping in past few weeks post Brexit and weak June quarter (Q1FY17) performance. The index is above 175 points or 1.62% at 10,988.25. The major market movers such as Tata Consultancy Services and Wipro were trading as top gainers on BSE exchange. TCS has surged nearly 3.82% to Rs 2716.05 and Wipro was up 2.34% to Rs 558.05.