Markets end flat in volatile trading; mid cap stocks see deep cuts

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Markets ended the day flat, even as heavy profit booking set into the markets with mid cap stocks plunging in the last one hour of trade.

The Sensex which had rallied to as much as 25,141 points in intra day trade ended the day at 24,716 points , a gain of 23 points over Friday's close.

The Nifty closed the day lower by 8 points. There was carnage in mid cap stocks with PSU banking stocks seeing severe selling pressure. Among the losers from the space were Oriental Bank, which ended the day with losses of 6 per cent, while other losers were Union Bank of India (7 per cent), Bank of Baroda (4.5 per cent) and Canara Bank (4.3 per cent).

Other mid cap losers were Adani Power, IFCI and NHPCL which lost between 5 and six per cent.

Top Nifty losers in trade were Bhel, Hindalco, Tata Power and NTPC. The star in trade, however, was Mahindra and Mahindra from the Nifty which jumped more than six per cent.

Other Nifty gainers were Larsen and Toubro, Sesa Sterlite, Infosys, Wipro and Tata Motors.

Realty stocks saw some deep cuts with DB Realty down 10 per cent and HDIL (10 per cent) and Unitech seeing cuts of around 5 per cent each.

The Bank Nifty ended the day lower on profit booking in select heavyweight counters. Meanwhile, most of the Asian markets ended the day higher, while the European markets also trading higher. In fact, the German DAX hit a new record in trading.

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