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Markets end lower; Mahindra Satyam rallies smartly

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Markets end lower; Mahindra Satyam rallies smartly
Markets ended the day lower, as fears of a drought and the lacklustre announcements made by ECB President, Mario Draghi disappointed the markets.

The BSE Sensex ended the day lower by 17 points (provisional), while the Nifty ended the day lower by 12 points. Among the shares that lost maximum ground in trade today were the metals pack including Hindalco, Tata Steel, Jindal Steel and Sterlite Industries, all of which lost more than 2%.

 

Among the shares that had a spectacular day was Mahindra Satyam, which spurted today following a spectacular set of results posted by the company. The shares closed up more than 7% today, after the company reported a rise in net profit of 56% year-on-year to Rs 352 crore, for the quarter ended June 30, 2012.

Among the shares that gained in the S&P CNX Nifty were Dr Reddy's Laboratories, Wipro, NTPC and Sun Pharma.

Meanwhile, European markets were trading higher, shrugging of disappointment from ECB President Mario Draghi, who did not indicate any strong measures at the press conference after the ECM meet.

Markets are likely to take cues from US jobs data numbers, which are due later today. Any lower than expected data could signal strong cues for a quantitative easing, which could spark a rally in markets across the globe.

GoodReturns.in

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