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Markets end flat; Power Grid rallies

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Markets end flat; Power Grid rallies
Markets ended the day flat in the absence of any major cues with losses in heavyweights restricting large scale gains.
 

The Sensex ended lower by 23 points, while the Nifty lost 2 points in trade. Among the top gainers in trade today were once again technology stocks with HCL Tech and TCS gaining ground. Wipro also rallied ahead of its results to be declared later in the evening.

Other IT stocks that gained ground in trade today were Tata Power, IDFC, Coal India and BPCL. Banking stocks also gained ground with ICICI Bank and Axis Bank gaining ground.

PSU banking stocks saw buying support following reports of capital infusion of around Rs 14,000 crore into these banks.

Notable gainers from the space were Syndicate Bank, Andhra Bank and Allahabad Bank. Yes Bank which reported its numbers today also gained ground after its results matched street expectations.

Top losers in trade today were HDFC, Hero Motor Corp, DLF, Cipla and NMDC. A fall in the prices of heavyweights like ITC and Reliance Industries also put pressure on the indices.

Mid cap stocks ended higher with JSW Energy, Biocon, CESC and Bata India among the gainers. However, Karnataka Bank lost as much as 5 per cent after the company's results disappointed the markets.

Pharma shares were weak in trade today after a bout of profit taking. Shares that lost ground today from the sector were Cipla, Ranbaxy and Sun Pharma.

Meanwhile, Asian markets ended the day mixed with the Shanghai Composite and the Hong Kong's Hang Sang falling, while the Japanese Nikkei and the Singapore's Strait Times rallied.

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