Nifty breaks six day losing streak; indices end higher

Updated: Wednesday, July 18, 2012, 15:29 [IST]

Markets ended the day higher after moving in a tight range for most of the day, with the Nifty finally breaking a six day losing streak. The Sensex ended the day higher by 80 points, while the Nifty closed the day higher by 23 points.

Bajaj Auto rose sharply on short covering and after the company posted a decent set of numbers for Q1 2013. Nifty stocks that gained good traction included Jindal Steel, Sterlite, Sesa Goa and Tata Power. Shares that lost ground in trade amongst the S&P CNX Nifty were Punjab National Bank, Tata Motors and Dr Reddy's Labs.

TCS which had been hammered down in trade on Tuesday recovered ground today.

Shares in Europe were trading firm after comments from Ben Bernanke did not totally rule out another round of quantitative easing in the US. The UK's FTSE, the German DAX and the French CAC were all trading higher between 0.50% to 1.5%.

Markets are expected to continue to take cues from the globe in the absence of major domestic triggers. However, individual stocks are likely to react to their Q1 numbers.

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