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Markets end flat after trading in a tight range

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 Markets end flat after trading in a tight range
Markets were quiet in trade today and moved in a tight range as caution prevailed ahead of the Fed's Open Market Committee meet scheduled for next week.
 

The Sensex ended the day with marginal losses of 64 points (provisional), while the Nifty lost 0.10 point in trade. Capital goods were the star performers in trade today after IIP numbers for July revealed a jump of 15% month on month in the capitals goods index.

Stocks that rose from the sector were Bharat Heavy, Crompton Greaves, Voltas and Siemens. Public sector banking stocks continued to rally with Punjab National Bank jumping 5%, while other PSU banking stocks that gained were Oriental Bank of Commerce, Andhra Bank, Allahabad Bank, Indian Overseas and Syndicate Bank.

Among the Nifty stocks that rallied in trade were DLF, Reliance Infra and Tata Power. Jaiprakash Associates which had slumped on Thursday following a deal with Ultratech Cement on Thursday ended the day with sharp gains.

Private sector banking stocks ended the day mixed with HDFC Bank declining, while Axis Bank rallied in trade.

Technology stocks were weak in trade with HCL Tech shedding 2%, while Infosys lost more then 1% and TCS dropped 0.50%.

The mid cap index ended the day sharply higher with notable gainers from the space being GMR Infra, Jain Irrigation, Reliance Communications and Voltas.

Meanwhile, markets in Asia ended the day mostly lower on profit booking after the spectacular rally of the last few days.

The Korean Seoul Composite, the Hong Kong's Hang Sang and the Taiwan Weighted all ended the day lower today. Markets in Europe were also trading marginally lower.

GoodReturns.in

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