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Markets end higher as heavyweights rally

Markets end higher as heavyweights rally
Markets ended the day higher led by a rally in heavyweights Reliance, ONGC and ITC. Strong trade in Europe also helped boost sentiments after most of Asia closed with losses.

The Sensex ended the day with gains of 62 points (provisional), while the Nifty closed with gains of 19 points.

Top losers in trade were NMDC, Asian Paints, Lupin, Cairn India and Maruti. PSU banking stocks which were hammered out of shape on Monday continued to grind lower with IDBI Bank, Andhra Bank and Dena Bank rallying. Most of these PSU banking stocks had plunged to 52-week lows.

Ranbaxy which hit a 52-week low in trade rallied after a favourable Court verdict for the company, but still ended lower. Aurobindo Pharma was up despite reports that there were CBI raids against the company.

Realty stocks had a good day in trade today with stocks like DLF jumping 4 per cent, while Godrej Properties was up 6 per cent.

Mid cap stocks that saw sharp gains were Adani Enterprises, Adani Power, IFCI, Crompton Greaves and CESC.

Pharma stocks saw some selling pressure in trade with notable losers being Glaxo, Lupin and Piramal. Other stocks that jumped were Piramal Enterprises and Ranbaxy Labs.

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