Election blues over; markets end flat

Commentary

oi-Sunil

By Sunil Fernandes

Published: Wednesday, March 7, 2012, 15:44 [IST]

Markets ended the day with marginal gains today's as election results were put behind, with the market focus now on the forthcoming Credit Policy and the Union Budget.

The BSE Sensex closed the day at 17,145 points, down 27 points, while the NSE Nifty closed the day at 5220.45 points, down 1.95 points. Among the major gainers today was Jaiprakash Associates which rallied sharply short covering in the stock.

Among the other gainers were technology stocks like HCL, Infosys and Wipro which continued to gain after the recent decline in the rupee.

Kingfisher Airlines tanked almost 7% on reports that the income tax department had once again freezed accounts at the company.

With the election results now behind, all eyes are focused on the Union Budget and the Credit Policy. Any disappointment on both the fronts may see a massive sell-off in stocks.

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