Markets end in red; SBI, Tata Steel drop

Markets ended the day in red amid weak global cues with the 30-share BSE Sensex lower by 162 points to 18,683 and the 50-share NSE Nifty lost 52 points at 5,686.

Benchmark indices were dragged lower by banks and sectors like Realty, Metal, PSU and Oil&Gas.

Shares of the SBI dropped 3.99% to Rs 2156 after the company reported Q2 results, stocks were weighed by bad loan provisions.

Shares of the Tata Steel also dropped 3.89% after the company posted weak set of numbers.

Other losers in the trade were ONGC and IDFC. The stocks that gained in today's trade were Cairn India, Power Grid, Ultra Tech Cement and Maruti Suzuki.

Manappuram Finance plunged more than 10% after the company reported 20% drop in its net profit at Rs 108 crore for the quarter ended September 2012.

United Breweries (Holdings) Limited and United Spirits Limited today announced that agreement has been signed in which Diageo would acquire a 27.4% stake in USL, the leading spirits company in India.

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