Markets end flat despite strong global cues

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Markets end flat despite strong global cues
The Sensex and the Nifty ended the day marginally higher despite a strong rally across global markets. The Nifty ended the day higher by 10 points, while the Sensex gained 21 points in trade. Among the notable gainers in trade were Grasim, Hindalco, Jindal Steel, and Punjab National Bank.

Among the top Nifty losers in trade were Infosys, which lost ground following worries over the exit of several senior personnel, after V Balakrishnan quit the company. Other IT stocks, however, ended the day with gains. Among the top Nifty losers in trade were HDFC and Hindustan Unilever.

Mid cap stocks continued to rally in trade with GMR Infra, HDIL, JSW Energy, Oriental Bank and Unitech being among the gainers. Luggage maker VIP Industries surged more then 7 per cent, as interest was back in the stock.

However, MRF and Jubilant Foods lost ground from the mid cap stocks. Oil marketing company stocks rallied after most of them gained following a hike in petrol prices.

United Breweries fell after the Karnataka High Court declared the sale transaction by United Breweries Holdings (UBHL) to Diageo void.

Axis Bank had a good day in trade after the company was included in the Sensex at the expense of Jindal steel.

Meanwhile, markets in Asia ended the day higher following strong global cues. The Hong Kong's Hang Sang, Shanghai Composite and the Singapore's Strait Times all ended the day higher.

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