Sensex, Nifty end higher; L&T tanks 7 per cent post results

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Sensex, Nifty end higher; L&T tanks 7 per cent post results
Sensex27,836.51Sensex Quote-254.91 [0.91%]
Nifty8,615.25Nifty Quote-76.05 [0.88%]
Benchmark Indian indices ended the higher ahead of F&O expiry on Thursday. The Sensex closed the day higher by 96 points, while the Nifty ended the day with gains of 42 points at 7791 points.

Leading the set of gainers from the Nifty was Bharti Airtel which surged 5 per cent, following a good set of results. Other Nifty gainers included Hindalco, ICICI Bank and Mahindra Mahindra.

Infra major L&T was a big loser on the bourses and slipped 7 per cent, after the company's results lagged estimates. Analysts were also worried of the company's executive comments that demand in the economy was still sluggish.

Other Nifty stocks that declined in trade were NMDC, State Bank of India, Tech Mahindra and HCL Tech. However, shares in Lupin Labs ended the day higher after the company's results matched expectations.

Bank of India on the other hand fell, after the bank's results lagged estimates. Realty stocks saw some buying interest with HDIL and Indiabulls both rallying 4 per cent in trade. Select mid cap stocks ended the day significantly higher among these were names like Ashok leyland, India Cements and UPL.

ITC which also came out with results ended the day higher as analysts were happy at the margins and volumes at the company.

Meanwhile, most of the European markets were trading higher flat to higher at the time Indian markets closed.

Story first published: Wednesday, July 30, 2014, 15:05 [IST]
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