Markets end flat; European peers support

Updated: Monday, October 15, 2012, 15:39 [IST]

Markets ended the day flat, after trading in the negative following higher than expected inflation data.

The Sensex ended the day higher by 38 points, while the Nifty gained 11 points. Strong openings in Europe helped Indian markets claw back losses witnessed in early trades.

Among top gainers in trade today were Hindalco, Ranbaxy Laboratories, Cipla, HCL Technologies and Siemens. Shares of Reliance Industries ended the day up more than 1%, ahead of its results to be declared later today.

Among the shares that lost ground were Lupin, Maruti Suzuki and Coal India. Shares of Infosys continued to witness selling pressure following its results and guidance that were declared on Friday.

Shares of the DB Reality hit the upper end of the circuit filter for the second day in a row, after reports that high profile investor, Rakesh Jhunjhunwala's RARE Enterprises bought a 4% stake on offer by a private equity player.

The Deccan Chronicle stock ended lower by 5%, after reports that its loans are under the finance ministry scanner.

Banking stocks ended the day mixed, despite high WPI inflation for September, which dashed hopes for a possible rate cut from the RBI. Axis Bank, Indusind Bank and Union Bank had a subdued closing, while ICICI Bank, Syndicate Bank, IDBI bank and Oriental Bank gained.

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