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Markets end flat on profit booking

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 Markets end flat on profit booking
Markets ended the day flat after rallying significantly in the last two days following a good set of economic data.

 

The Sensex ended the day lower by 41 points (provisional), while the Nifty ended the day with losses of 16 points. Among the top gainers in trade were Jindal Steel which rallied 3 per cent, while Gas Authority also gained three per cent in trade.

Other notable gainers were Hindalco and Bharat Heavy Electricals. Heavyweights, Reliance Industries also rallied in trade.

Larsen and Toubro which has rallied substantially in the last few trading sessions also lost ground. Top Nifty losers in trade today were NTPC, Tata Motors, HDFC Bank and HDFC.

PSU Banking stocks saw some profit booking in trade with Bank of India, Andhra Bank and Canara Bank among the top losers from the space.

Reliance Media was up almost 3 per cent after the company said that it was considering a QIP. Telecom stocks ended the day flat ahead of a EGOM meet to consider M&A activity in the sector. Mid cap stocks also saw very little price movement in trade today, though Apollo Tyres came in for some heavy selling pressure.

Metal stocks saw some selling pressure with Tata Steel and Sesa Sterlite among the losers from the sector.

IT stocks ended the day little changed, though TCS, though TCS was among the gainers in trade today.

Meanwhile, Asian markets ended the day mixed with the Shanghai Composite and the Japanese Nikkei gaining in trade, while the Seoul Composite and the Singapore's Strait Times ended lower.

GoodReturns.in

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