Markets end higher; metals stocks rally

Updated: Friday, December 14, 2012, 15:54 [IST]

Indices ended the day with gains, as buying in frontline stocks led to a smart bounce in the markets in the last half hour of trade. Metals and PSU Banking stocks led gains, which saw the Nifty ending higher by 28 points, while the Sensex rose 87 points.

Amongst metal stocks today's gainers included Sesa Goa, Hindalco, Jindal Steel and Tata Steel. PSU banking stocks also saw strong buying interest in trade with State Bank of India, Bank of Baroda, Allahabad and Union Bank rallying.

Among the index stocks that lost ground today were Power Grid Corporation, Bhel, Bharti Airtel, Lupin, Ambuja Cements and Cipla.

FMCG stocks like Hindustan Unilever and ITC, which lost ground on Thursday continued to see selling pressure with both the stocks ending lower once again on Friday.

Cement stocks also ended the day lower with ACC and Ambuja Cements amongst the losers. IT stocks ended the day mixed with Infosys losing ground, while Wipro and TCS managed to end the day higher.

Among non index stocks Kingfisher Airlines which was locked at the upper end of the circuit filter ended the day flat.
Fertilizer stocks were in the limelight on reports that the government had cleared the urea policy. Fertilizer and Chemicals Travancore surged almost 17%, while Rashtriya Chemicals and Fertilizers was up 3% at Rs 56.10, while Liberty Phosphate, Southern Petrochemicals Industries Corporation and GNFC were the other gainers.

Meanwhile, markets in Europe were trading mixed with the German DAX and UK's FTSE marginally up, while the French CAC was trading lower.

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