Markets end higher; L&T surges

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Markets end higher; L&T surges
Markets ended the day higher on firm opening in Europe and short covering in large cap stocks. The BSE Sensex ended the higher by 112 points at 16328  points, while the Nifty gained 35 points.

Among the star performers today was L&T, which surged more than 6%, after the company's revenue guidance saw optimistic investors buying into the stock. Sesa Goa, Sterlite and Cairn India were the other shares that jumped up smartly in trade today.

Among the shares that last ground today were NTPC, Maruti Suzuki, Bharti Airtel and IDFC. Shares of Bharti Airtel lost ground today following reports that the Enforcement Directorate (ED) was probing money laundering cases against the company.

In Europe shares opened higher, following a sharp drop on Monday, due to the political turmoil in Greece. UK's FTSE, German DAX and French CAC were all trading higher in early trade.

Markets are expected to be range bound and track global cues, in the absence of any major economic data.

Read more about: sensex, nifty
Story first published: Tuesday, May 15, 2012, 15:16 [IST]
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