Sensex, Nifty end lower; banks & IT drag, metals gain

Hindalco, BHEL, GAIL, Cipla and Lupin are top gainers while ICICI Bank, Ports, Bharti Airtel and ITC are losers in the Sensex 43.90 points or 0.6 percent at 7805.90. About 1291 shares have advanced, 1313 shares declined, and 115 shares are unchanged. GAIL, Hindalco, BHEL, Maruti and Hero MotoCorp were gainers while ICICI Bank, Bharti Airtel, Adani Ports and SBI were losers in the Sensex.The pace of earnings downgrades in emerging markets has slowed down, say  Co-CEO and Head - Institutional Equities, IDFC Securities. 

 Damania said he expects inflows from both overseas and local retail investors to continue, something that he said would support stocks.

He also discussed many stock and sector strategies, saying his top picks were Infosys   Motor is likely to jump 18 percent to Rs 107 crore in January-March quarter from Rs 90.5 crore in corresponding quarter last fiscal. According to a poll, the two-wheeler manufacturer may see 12 percent revenue growth at Rs 2743.1 crore in Q4FY16 against Rs 2456.8 crore year-on-year.

During the period, EBITDA may rise 29 percent at Rs 193 crore compared to Rs 150 crore in year-ago period. Operating profit margin may also rise 7.1 percent from 6.1 percent year-on-year.Indian-origin  has confirmed that it will be submitting its bid for Tata Steel's loss-making

 UK businesses by tomorrow, according to a media report.The commodities trading firm, which emerged as an early front-runner for Wales-based Port Talbot steelworks, had said last week that its team was evaluating the bid."We can confirm that Liberty will submit a letter of intent to Tata Steel  and has put in place a strong internal transaction team and panel of leading external advisers to take the bid forward," a Liberty House spokesperson was quoted as saying by 'The Financial Times'.

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