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Markets end higher; Infosys drifts lower ahead of results

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Markets end higher; Infosys drifts lower ahead of results
Markets ended the day higher, led by strong gains in metals and banking stocks. The NSE Nifty closed the day higher by 50 points, at 5277 points, while the BSE Sensex closed the day higher by 128 points (provisional).

The IPP data which came in at 4.1%, which were lower than estimates of around 6.6% failed to have any impact on the markets. Analysts believe that the poor IIP number will now prompt the RBI To cut rates in its Monetary Policy Review of April 17.

 

Among today's gainers were the metal stocks including Jindal Steel, Sterlite and Hindalco. Among the losers were Cairn India, Dr Reddy's and Sun Pharma. Infosys Technologies lost ground today ahead of its results, which is to be declared tomorrow.

Markets are not only expecting to see improved profitability, but will wait for guidance of FY 12-13 numbers from the IT major.

Shares of NBCC got listed and was traded lower than the offer price of Rs 100.70. MT Educare the other share that got listed rose sharply by 13%.

GoodReturns.in

Read more about: sensex nifty nbcc
Story first published: Thursday, April 12, 2012, 15:17 [IST]
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