Markets end flat; Reliance drops

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Markets end flat; Reliance drops
After trading higher for most of the day, markets shed gains in late trade, following a subdued trend in Europe.

The BSE Sensex closed the day higher by 3 points, while the Nifty ended the day higher by 2.50 points. Reliance saw sustained selling pressure and dropped more than 1.68% in trade today.

Shares of TCS surged today to touch a lifetime high following sustained buying in the counter. The shares touched a 52-week high of Rs 1320 on the National Stock Exchange.

IT counters rallied today with Infosys and Wipro also in the limelight following buying support. Shares of Adani Ports shed more than 4% on reports that its SEZ in Gujarat has come under the scanner for violation of norms.

Earlier, shares opened higher in trade today following the minutes of the Federal Reserve meeting which hinted at measures to boost the US economy, unless there was a sharp recovery. Shares rallied on the hopes of a quantitative easing programme. However, subdued equities in Europe saw equities shed gains in the last one hour of trade.

Markets are expected to continue to track global cues and are expected to remain volatile in the next few trading sessions.

GoodReturns.in

Read more about: sensex, nifty
Story first published: Thursday, August 23, 2012, 15:19 [IST]
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