Markets end higher as ITC, Reliance rally

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Markets end higher as ITC, Reliance rally
Markets ended the day higher led by a sharp rally in heavyweights including ITC and Reliance Industries.

The Sensex closed the day higher by 136 points (provisional), while the Nifty rallied by 28 points. Among the top gainers from the Nifty were Hero Motor Corp, Bhel, Gail, Mahindra and Mahindra and Tata Steel. Bharti Airtel saw a substantial rally for a second day in a row on sustained fund buying.

Coal India jumped more then 3 per cent, after the company reported good Q4 numbers. The Mid Cap index also ended the day with smart gains led by a rally in stocks like Dewan Housing, Gujarat State Petro and Havells, which reported good Q4 growth.

Top losers from the Nifty were Sun Pharma, State Bank of India, Tata Power, Sterlite Industries, HDFC and L&T.

Pharma major Wockhardt fell for a third day in a row as investors continued to fret over the FDA import alert for its facilities.

Shares in Peninsula Land dived 5 per cent, as the company disappointed with poor Q4 numbers. AstraZenec plunged 17 per cent, after the company's OFS issue was set way below the market price.

Financial Technologies gained after reports that the company was in talks with PE players to sell 6 per cent stake in IEX. PSU Banking stocks had a quiet session of trade today with most of the stocks from the sector ending flat.

Meanwhile, most of the Asian markets ended the day with gains, with the Japanese Nikkei and the Jakarta Composite ending higher by more then1 per cent.

GoodReturns.in

Read more about: sensex, nifty, itc, reliance
Story first published: Tuesday, May 28, 2013, 15:01 [IST]
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