Markets close higher; Infosys continues to drift lower

Commentary

oi-Sunil

By Sunil Fernandes

Published: Monday, April 16, 2012, 15:40 [IST]

Markets closed the day marginally higher today, in trading that was stuck in a very thin range. Traders and investors did not take any positions ahead of the RBI's Monetary Policy Review slated for Tuesday.

The BSE Sensex closed the day higher at 17,150 points, up 56 points, while the NSE Nifty closed the day at 5226 points, up 18.75 points over its previous close.

Infosys continued to drift lower, as brokerages and investment firms evaluated the company's prospects going forward in the light of the guidance provided by the company.

Among today's gainers were Tata Motors, Jaiprakash Associates, Axis Bank and Punjab National Bank. Among the major losers today were Ambuja Cements, Bharti Airtel and ACC.

Markets are now eyeing the RBI's Monetary Policy Review slated for Tuesday. It's widely expected that the RBI would cut repo rates, after a span of three years, as economic growth rates and industrial production continue to dip.

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