Mahindra and Mahindra closed the day sharply higher after the company reported better then expected results.

Among the top losers in trade were Cipla, which lost almost 4 per cent, following a poor set of Q4 results. ONGC also lost ground as the company's profit was way below expectations. The stock was down more then 1.5 per cent in trade.

Other Nifty stocks that lost in trade today were Jaiprakash Associates, Hindalco, ICICI Bank, Tata Steel, DLF, IDFC and Reliance.

Tata Motors had a spectacular rally today after the company reported a sterling Q4 performance. Other major gainers from the Nifty were ITC, HDFC, NMDC and Kotak Mahindra,

Banking stocks ended the day mixed with most of the PSU banking stocks ending the day with gains. The IT pack also ended the day mixed with TCS gaining, while Infosys dropped in trade.

Sun Pharma which rallied sharply in trade on Wednesday continued to see buying interest. The HDIL stock continued to drop after receiving a termination notice from Mumbai International Airport Limited (MIAL) for its slum rehabilitation project. The stocks was down another 2 per cent in trade today.

Meanwhile, markets in Asia were mostly trading lower followed by losses in markets like the Hang Sang and the Japanese Nikkei.

GoodReturns.in