Markets end higher; DLF tumbles again

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Markets end higher; DLF tumbles again
Markets ended the day marginally higher after trading flat for most of the day. The Sensex closed the day with gains of 33 points, while the Nifty gained 12.25 points.

DLF continued to drop shedding another 3% in trade today. Other stocks that ended the day with losses included Ambuja Cement, GAIL and ACC.

Shares of HCL Technologies which had surged following its results gave up gains and ended the day lower on profit booking in the counter. The company had touched a 52-week high in trade.

Shares of MindTree dropped more than 4%, as the results and the revenue guidance of the company failed to meet expectations.

Shares of Airport Infrastructure players, GMR and GVK both dropped after Civil Aviation Minister Ajit Singh directed the Airports Authority of India (AAI) to infuse additional equity at Delhi and Mumbai Airports in order to abolish Airport Development Fee.

Among the gainers in trade were Lupin, Tata Power, Cairn India and Ranbaxy Laboratories. Banking shares were subdued in trade with State Bank of India and HDFC Bank losing ground, while Axis and ICICI Bank ended the day with gains.

Heavyweight Reliance Industries also ended the day with losses on selling pressure.

Meanwhile, markets in Europe were trading flat, while most of Asia closed with gains. Indian markets are likely to track global cues in the absence of any fresh domestic triggers.

Read more about: sensex, nifty
Story first published: Wednesday, October 17, 2012, 15:07 [IST]
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