Markets end higher; Ranbaxy soars following results

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Markets end higher; Ranbaxy soars following results
Markets ended the day flat for a second day in a row, after trading significantly lower in early morning trades. The Sensex ended the day higher by 43 points (provisional), while the Nifty rallied 21.50 points.

Pharma major Ranbaxy Laboratories jumped more than 6 per cent, after the company managed to lower its losses. Tata Group companies Tata Steel and Tata Motors led the rally in trade with both the stocks jumping in trade.

Other Nifty gainers in trade were Gail, Coal India and Mahindra and Mahindra. Bharat Heavy, which declared results below expectations lost more than 1.2 per cent in trade.

Heavyweight, ITC led Nifty declines along with Maruti Suzuki. Bharti Airtel which gained substantially after the 2G auction, saw some selling pressure and dropped lower.

Shares of Tech Mahindra were in demand after its Q3 results were better than expectations. Banking stocks, which have been hammered ever since the RBI Monetary Policy, saw some buying interest with Canara Bank, HDFC Bank and IndusInd Bank among the gainers.

Realty stocks were in the limelight with Anant Raj, DLF and Godrej Properties gaining ground.

The Mid cap index also ended the day flat with losses being seen in Tata Chemicals and Hindustan Zinc. Jubilant Foodworks saw selling pressure after its results disappointed the street.

Meanwhile, most of the Asian markets ended the day with gains, except the Chinese Shanghai Composite and Hong Kong's Hang Sang ending the day with losses.

GoodReturns.in

Story first published: Wednesday, February 5, 2014, 14:50 [IST]
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