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Markets end flat; Hindalco rallies

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 Markets end flat; Hindalco rallies
The Sensex and the Nifty ended the day flat in trade, seeing an intra day recovery following sharp gains in the rupee. The Sensex ended the day with gains of 22 points (provisional), while the Nifty lost 2 points in trade.
 

The rupee rallied to 61.30 against the US dollar on continuing forex inflows. Markets also ignored weak services PMI data.

Among the top gainers in trade today was Tata Motors, which jumped 1 per cent, while other notable gainers were Hindalco, Tata Steel, Lupin and Maruti among others.

Bharti Airtel which dropped on Thursday, following regulatory worries gained ground in trade. Tata Consultancy Services was once again in the limelight rallying another one per cent in trade. However, other IT stocks like Infosys and Wipro were subdued in trade.

Banking stocks had a mixed day in trade with ICICI Bank, Axis and IndusInd Bank losing ground, while HDFC Bank and Yes Bank gained.

Realty stocks were among the star performers with the index ending the day with more then 2 per cent gains. Notable gainers were HDIL, Indiabulls and Godrej Properties. In fact, Sobha jumped as much as 11 per cent in trade today.

Pharma stocks were subdued in trade today with most of the stocks ending with marginal gains. However, Wockhardt continued to be locked at the lower end of the circuit filter.

Ashok Leyland, rallied sharply despite reporting a drop in sales figures.

Meanwhile, most of the markets in Asia ended the day with losses. Among the markets that lost ground were the Japanese Nikkei, the Singapore's Strait Times and the Jakarta Composite.

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