Markets end higher as technology stocks rally

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Markets end higher as technology stocks rally
Markets ended the day higher led by a surge in technology stocks, particularly Tata Consultancy Services, Wipro and HCL Tech.

The Sensex ended the day higher by 129 points (provisional), while the Nifty rallied 42 points in trade. Among the other gainers apart from the IT pack were heavyweight ITC, Mahindra and Mahindra, Bharat Heavy Electricals and Tata Motors.

Top Nifty losers in trade were Jindal Steel and Power, Coal India and Jaiprakash Associates.

Banking stocks also managed to maintain momentum with notable gainers being IndusInd Bank and Yes Bank.

Heavyweight, Reliance Industries which reported a good set of Q3 numbers saw its stock price falling and was the top Nifty loser in trade.

Ultratech Cement which reported profits that were in line with expectations ended the day flat.

Mid cap stocks had a good day in trade with notable gainers being Aurobindo Pharma which rallied six per cent on reports of the company taking over Actavis. The other top gainer from the mid cap was Hexaware.

Realty stocks ended the day higher on the back of buying in stocks that included Sobha Developers and Godrej Properties.

Meanwhile, markets across Asia were trading lower on the back of weak data from China. The Japanese Nikkei, the Chinese Shanghai Composite and the Hong Kong's Hang Sang all ended the day lower.

GoodReturns.in

Story first published: Monday, January 20, 2014, 14:35 [IST]
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