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Markets end higher; IT stocks hit 52 week high

Markets end higher; IT stocks hit 52 week high
Markets ended the day marginally higher led by sustained buying in frontline IT stocks. The Sensex and the Nifty ended the day higher for a third consecutive session with the Nifty ending the day with gains of 44 points, while the Sensex gained 160 points in trade.

Among the top gainers were the IT pack led by Infosys Technologies, TCS, Wipro and HCL Tech. TCS hit a 52-week high of Rs 1595 on the National Stock Exchange, while Infosys hit a 52-week high of Rs 3009 and Wipro hit a 52-week high of Rs 452.80.

Among the other notable Nifty gainers from the Nifty were HeroMotor Corp, DLF, Larsen and Toubro, Asian Paints, Sun Pharma and BPCL.

Among the losers included stocks like Jindal Steel, Hindustan Unilever, Tata Motors, Ambuja Cements, Hindalco, Reliance Infra, Tata Steel and IDFC Infra.

Bank of India ended the day higher by 1 per cent after reports that the bank was making a preferential allotment to the government.

Punjab National Bank dropped despite the bank receiving allotment money of Rs 1,247.99 crore from the Government of India.

Maruti Suzuki rallied after reports that the company will invest in a factory to scale up production as early as next month.

Realty stocks continued their rally with gainers from the space including DLF, Anant Raj, DB Realty and Parsvnath.

Rashtriya Chemicals and Fertilizers ended the day lower and hit a 52-week low after the government's stake sale in the company.

Shares of HPCL ended up 1.2 per cent after the company said it will enter into a partnership with Shapoorji Pallonji group for an LNG Terminal.

Markets are expected to move in tandem with global markets and would now watch for the RBI's credit policy later this month.

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