Markets End Higher; Infosys Falls Post Results

Business

oi-Sunil Fernandes

By Sunil Fernandes

Published: Friday, October 14, 2016, 15:36 [IST]

Benchmark indices ended the day higher, as global cues remained strong. The rise was largely on the back of solid trade in European markets, which were seeing gains of near 1 per cent.

In fact, Asian markets also closed higher after Chinese data pointed to a price rise. The Sensex ended the day with gains of 30 points, while the Nifty ended the day with gains of 10 points.

Infosys was the stock in the limelight today, following results by the IT major. The company once again lowered its guidance in constant currency terms, which saw the stock falling by 2.2 per cent. The shares ended trade at Rs 1028, after falling to a low of as much as Rs 996 in intra-day trade.

TCS on the other hand, which reported numbers after market hours on Thursday ended the day with gains. There may have been some short covering rally that happened in the stock.

Banking stocks mostly ended the day higher with Kotak Mahindra Bank and Bank of India among the top gainers.

Shares in Hindustan Construction on the other hand jumped, after HCC-VCCL JV won a contract worth Rs 368 crores.

Punjab National Bank was also in the limelight after reports that PNB Housing received a SEBI nod for its Rs 2,500-crore IPO.

Meanwhile, the rupee was last seen trading at 66.85 to the US dollar.

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