Markets end the day flat; ICICI Bank spurts

Commentary

oi-Sunil

By Sunil Fernandes

Published: Friday, April 27, 2012, 15:39 [IST]

Markets ended the day almost flat with the Sensex closing the day higher by 3 points, at 17134. The NSE Nifty closed the day higher by 1.60 points.

European shares opened sharply lower, dragging the Indian indices with it. However, European markets recovered sharply, while the Indian markets continued to languish in the red.

Shares of ICICI Bank spurted today after the company posted a strong set of numbers for Q4. The bank reported a sharp surge in net profits to Rs 1902 crores, a jump of 31% over the corresponding period of last year. Shares of Biocon too rose sharply following a spectacular set of financial results.

Among the other gainers in trade today were HCL Tech, Siemens and Axis Bank. All eyes would not be focussed on the problems in Europe in the coming weeks.

A special live trading is being held by the NSE tomorrow to upgrade its systems.

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