Listless markets end the day lower; DLF surges

Commentary

oi-Sunil

By Sunil Fernandes

Published: Wednesday, May 2, 2012, 16:12 [IST]

Markets were listless and remained rangebound in the absence of major global or domestic cues. The Sensex closed the day at 17301.91 lower 16.90 points, while the NSE Nifty closed the day lower by 9 points.

Among the gainers in trade today were DLF, PNB, Bharti Airtel and Hindustan Unilever (HUL). In fact, HUL surged after the company reported better than expected quarterly results.

Similarly, Bharti Airtel saw buying interest after the company reported results that were in line with market expectations.

BGR Energy was up today on reports that the company had bagged an order from NTPC for critical boilers.

According to marketmen, markets are becoming stock specific, which react to results or some news, while the other stocks have begun trading in a very narrow range.

Markets are expected to be range bound in the absence of fund flows from foreign investors and also on the lack of major cues.

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