Mumbai: After a sluggish day, the market ended on lower note. The Sensex was down 23.78 points at 26813.42 and the Nifty slipped 4.45 points at 8130.65. About 1270 shares advanced, 1388 shares declined and 162 shares were unchanged.
Reliance, HDFC twins, Wipro and HDFC Bank were top gainers in the Sensex. Tata Steel, Vedanta, ONGC, ICICI Bank and Bajaj Auto were major laggards.
Bad loans? Infrastructure companies have been overleveraging due to shortfall in equity, which they were supposed to get from the market or the projects they had invested in, RK Bansal, ED, IDBI Bank said. "Stress in infrastructure has not increased, but it is continuing due to delayed fructification of investments," Bansal said.
Talking about the Jaypee Group, he said they haven’t been able to pay investors because of delayed cash generation from their invested projects.
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