Markets end steady; DLF, Bharti surge

Commentary

oi-Sunil

By Sunil Fernandes

Published: Tuesday, July 3, 2012, 15:52 [IST]

Markets ended the day steady, with the benchmark indices moving in a tight range throughout the day. The Sensex closed the day higher by 26 points, while the Nifty ended higher by 9 points, to close at 5287 points.

Europe was once again trading in the green today, while Asia closed higher on hopes of monetary easing following weak US manufacturing data. The UK's FTSE, the German DAX and the French CAC were all trading higher on expectations of a stimulus.

Domestically, shares of DLF and Bharti Airtel spurted, with the latter gaining on hopes of favourable policy outcome.

Other shares that gained were Hindalco and Gas Authority of India. Shares that lost ground today were TCS, Bhel and Jindal Steel. FMCG stocks like HUL and ITC also lost ground as investors preferred to bet on high beta names rather than the defensives.

Shares of software companies ended lower on account of the strong gains made in the rupee.

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