Markets close higher on strong global cues

Updated: Tuesday, July 23, 2013, 15:32 [IST]

Markets ended the day sharply higher on the back of strong global cues, as Asia rebounded after weak home sales data in the US ensured that the quantitative stimulus in the US would be prolonged.

The Sensex ended the day higher by 134 points (provisional), while the Nifty closed higher by 46 points. Among the top gainers in trade today were the beaten down names including DLF, Kotak Mahindra, Bank of Baroda, Reliance Infra and Punjab National Bank.

Among the top losers from the Nifty were some of the pharma and FMCG stocks including Cipla, Sun Pharma and Asian Paints.

Bharti Airtel which rallied in the last few days gave up some gains to end the day lower. Wockhardt which fell in trade after receiving a US FDA warning for its Waluj facilities gained in trade on value buying.

Banking stock gainers included Axis Bank, ICICI Bank and IndusInd Bank and State Bank of India.
Nifty stocks that lost ground were ACC, Ambuja Cements and Asian paints. Larsen & Toubro which dropped 7 per cent in trade on Monday following a poor set of numbers gained ground.
Reliance which also lost ground after it declares its results rallied in trade today. ITC gained ahead of its results to be declared on Thursday.
Realty stocks were in the limelight in trade today with notable gainers from the space being IndiaBulls, HDIL and DLF.
Meanwhile, markets in Asia closed the day significantly higher led by gains in the Shanghai Composite and the Hong Kong's Hang Sang.

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