Equities today saw an extremely choppy trading session, with the Sensex and the Nifty opening significantly higher in morning trade, only to drift into the red in afternoon trades. There have been no major takeaways from the result season as well and no major surprises.
Stocks that gained in trade today were Cairn India, IDFC, DLF and BPCL amongst others. Shares that lost ground today were Maruti Suzuki, Ranbaxy Laboratories, State Bank of India and Punjab National Bank. In fact, banks continued to witness selling pressure on worries over non performing assets.
Analysts believe that markets are likely to remain rangebound in the absence of any major domestic triggers, and are likely to track global cues.