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Sensex ends flat ahead of Bernanke conference

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Sensex ends flat ahead of Bernanke conference
Indian markets like most global markets were subdued ahead of what is turning out to be a crucial press conference by US Federal Reserve Chairman, Ben Bernanke who could hint at an extension or reduction of quantitative easing in the US.
 

The Sensex ended the day higher by 17 points, while the Nifty closed the day with gains of 8 oints. Among the top losers from the Nifty were Tata Motors, Ultratech Cement, Dr Reddy's labs and NTPC.

Stocks that gained from the Nifty were Jindal Steel, Ambuja Cements, Sesa Goa and Tata Steel. Idea Cellular hit a 52-week high in trade today on sustained buying in the stock from fund houses. Bharti Airtel too from the telecom sector jumped 3 per cent in trade today.

Heavyweights, ITC, ONGC and TCS had a bad day all ending the day lower in trade.

IDBI Bank gained in early trade after Moody's affirmed IDBI Bank's deposit ratings at Baa3/P-3. Real estate stocks had a good day in trade today with Sobha, Unitech and DB Realty all gaining in trade. Ranbaxy which has been falling in the last few trading session recovered to close flat.

Meanwhile, markets in Asia were trading lower led by losses in the Shanghai Composite and Hong Kong's Hang Sang. European markets were flat to negative ahead of the Fed Press Conference.

GoodReturns.in

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