Markets End Higher; Tata Motors Surges On Strong Numbers

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Markets traded in a tight range for most part of the day, but, saw a good rally in the last 1-hour of trade, led by a bounce in some heavyweights.

Markets End Higher; Tata Motors Surges On Strong Numbers
The Sensex ending the day with gains of 120 points, while the Nifty ended the day with gains of 34.90points.

Globally, markets were weak, after worries that the US Fed would hike interest rates earlier than expected. Janet Yellen, Fed Chairperson of the US Fed on Friday indicated that there could be further interest rate hikes in the US.

Leading the set of gainers in trade were Tata Motors, which jumped, following a good set of quarterly numbers. The stock ended the day higher by 4 per cent, though the net profits were lower on account of forex losses.

Shares of Tata Motors were largely buoyant after volumes and revenues showed that all segments were showing a superb growth rate.

Shares in Ricoh India jumped after the Company Law Tribunal allowed parent company to invest Rs 1,123 crore in the company.

Shares in Claris Life Sciences dropped after the company received 5 483s during the US FDA inspection.

Banking stocks, particularly the PSU banking stocks, which were subdued for most of the day, managed to end the day higher.

Meanwhile, the rupee was trading at 67.10 to the US dollar.

GoodReturns.in

Read more about: ricoh india, sensex
Story first published: Monday, August 29, 2016, 14:45 [IST]
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