Markets end lower; GAIL hits 52 week low

Commentary

oi-Sunil

By Sunil Fernandes

Published: Thursday, April 26, 2012, 15:40 [IST]

Markets traded in a narrow range for most of the day and ended marginally lower, with the Sensex closing the day lower by 20 points at 17130 points and the Nifty closing the day lower by 13 points at 5189 points.

Most of the Asian markets opened firm in trade, after the Federal Reserve hinted at keeping rates low until 2014. European stocks too opened higher, boosted by a strong set of corporate earnings.

Among the stocks that lost ground today was GAIL India, which hit a 52-week low on persistent selling pressure. Among the other shares that lost ground today were Hero Motorcorp, BPCL, Cairn India and PNB.

Among the stocks that gained today were Kotak Mahindra, Coal India, TCS and Jindal Steel.

Shares of United Spirits rallied more than 4% on reports that Diageo would pick a stake in the company. The stock had already rallied as much as 8% on Wednesday.

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