Markets end higher; ITC, L&T lead rally

Updated: Friday, November 2, 2012, 15:38 [IST]

Markets ended the day higher led by a sharp rally in heavyweights including ITC and L&T. The Sensex ended the day higher by 194 points, while the Nifty gained 52 points.

Today's gains were led by gas major GAIl, which rallied sharply by 2.55% following buying interest. Shares of IT companies continued to find buyers on better than expected results from Wipro. Apart from Wipro shares of TCS, HCL tech and Infosys all rallied.

Banking stocks too joined the party with ICICI Bank, HDFC Bank and Axis Bank all ending the days with gains. However, the star performer among banking stocks was Union Bank of India which surged more than 6% following a good set of quarterly results.

Heavyweight Reliance Industries was subdued and ended lower on ongoing worries over the company's gas pricing.

FMCG stocks ended the day mixed with ITC gaining, while Hindustan Unilever dropped marginally. Infrastructure and capital goods stocks too ended mixed with Jaiprakash Associates dropping, while Bhel gained marginally.

Meanwhile, markets in Asia ended the day with gains, while markets in Europe were all trading in the negative. The UK's FTSE, the German DAX and the French CAC were all trading lower.

Markets are expected to choppy ahead of elections in the US and fresh concerns over Greece.

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