Markets stage a late rally; Infosys surges 2%

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Markets stage a late rally; Infosys surges 2%
Markets ended the day higher in trade today following strong gains in Europe and buying support from foreign institutional investors. The BSE Sensex ended the day up by 194 points, while the Nifty ended the day higher by 54 points.

Shares of Infosys rallied smartly, following reports that a US court in Alabama had dismissed harassment charges filed against the company by one of its American employee. The shares of the company ended higher by 2%.

Other shares that gained in trade today were Tata Motors, HDFC and NTPC. Shares of Hindalco lost ground today following reports that the the Odisha State Pollution Control Board (OPSCB) has asked the company to shut down the captive power plant (CCP) of smelter plant near Hirakud in western Odisha in the wake of a breach in the company's ash pond that damaged standing crops in the locality.

Other stocks that lost ground today were Tata Steel and Bharti Airtel. The latter shed gains following a downgrading by a leading foreign institutional investor.

Meanwhile, in Europe markets staged a rally once again, on increasing hopes of monetary easing in the region. UK's FTSE, The German DAX and the French CAC were all trading higher by 0.5 to 1 per cent.

GoodReturns.in

Read more about: sensex, nifty
Story first published: Tuesday, August 21, 2012, 15:09 [IST]
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