Markets unimpressed with Sun TV buyout of Deccan Chargers

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Markets unimpressed with Sun TV buyout of Deccan Chargers
Markets ended the day with gains boosted by strong markets in Asia and Europe. The Sensex ended the day with gains of 48 points, while the Nifty closed with a gain of 13.90 points.

Among the winners in trade from the Nifty were Lupin Laboratories, HDFC, HCL Tech and Axis Bank. Shares of Reliance Industries witnessed a firm trend following reports that the ministry had exempted the company from Comptroller and Auditor General's performance audit.

Shares of Sun TV Network lost almost 4%, following reports that the company had acquired IPL Team Deccan Chargers.

PSU Banking shares lost heavy ground despite a firm market trend. Allahabad Bank, Andhra Bank, PNB, Canara Bank and State Bank of India all lost ground, following fears over PSU banks asset quality.

FMCG companies displayed a mixed trend in trade today. While shares of HUL lost ground ahead of its results, ITC closed with gains. Hero MotorCorp, which saw some selling pressure in morning trades following a poor set of numbers saw recovery and ended the day with gains. Sterlite Industries which declared its results on Wednesday saw gains, following a good set of numbers.

Meanwhile, shares in Europe were trading higher. In Asia most of the markets ended the day in the green, except the Shanghai Composite, which ended the day with modest losses.

Read more about: sensex, nifty
Story first published: Thursday, October 25, 2012, 15:16 [IST]
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