Markets End The Day Higher; Dr Reddy's Rallies

Business

oi-Sunil

By Sunil Fernandes

Updated: Thursday, August 6, 2015, 15:35 [IST]

Benchmark indices ended the day higher despite weak cues from across Asia where most of the markets ended the day lower.

The Sensex closed the day with gains of 75 points, while the Nifty closed higher by 20 points, making it six days of gains from seven. Check top Nifty gainers and losers

Leading the set of gainers in trade were Larsen and Toubro and Dr Reddy's Labs. In fact, Dr Reddy's Labs hit a new 52-week high in trade on sustained buying after CLSA said the company could see profits increase in the coming years.

Shares in Nestle India slumped after the FSSAI said that no clean chit was given to Nestle with regards to lead content in Maggi noodles.

Tech stocks were weak despite solid results posted by Cognizant. Tech Mahindra lost as much as 3 per cent, while Infosys also ended the day lower.

PSU Banking stocks saw a superb rally with Punjab National Bank and Union Bank shares among the gainers.Stocks from the space have seen relentless buying after the government decided to recapitalize these banks.

Shares in Arvind fell after the company reported numbers that lagged estimates. ITC, Coal India and Hero Motor Corp were the top losers from the Nifty.

Shares in Bharti Airtel ended the day flat despite the launch of 4g services.

Meanwhile, markets across Asia ended the day with gains, while most of Europe was trading marginally in the positive.

GoodReturns.in