Markets end flat; metal stocks surge

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Markets end flat; metal stocks surge
Markets ended the day flat today, after surging in trade throughout last week. The BSE Sensex ended the day 17,383 points, while the Nifty closed the day at 5,278 points. Shares of metal companies surged today with Hindalco, Sterlite, Sesa Goa and Tata Steel leading the pack. Among the shares that lost ground today were ITC and Hindustan Unilever.

Markets in Asia also closed higher with Hong Kong's Hang Sang and Singapore Strait Times rallying smartly.

In Europe shares opened on a positive note with the German DAX and the French CAC gaining more than 1%. Markets across the globe continued to show renewed optimism following Fridays' decision by euro zone leaders to allow rescue funds to be used to stabilise the region's banks.

Domestically hopes have been raised on reforms being initiated following Prime Minister Manmohan Singh's decision to handle the finance portfolio. All eyes would now be focussed on the monsoon and how it pans out throughout the country.

Read more about: sensex, nifty
Story first published: Monday, July 2, 2012, 14:59 [IST]
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