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Markets end higher; SBI drops post results


Markets end higher; SBI drops post results
Benchmark indices ended the day higher as positive WPI inflation data and strong cues from Asia boosted sentiments.

The Sensex ended the day higher by 180 points (provisional), while the Nifty ended the day higher by 47 points. Leading the list of losers from the Nifty was Bajaj Auto which fell 3 per cent, while other losers were Bharat Heavy and Mahindra and Mahindra.


Cipla which fell six per cent on Thursday continued to decline in trade. State Bank of India on the other hand fell a little less than 2 per cent after its results largely disappointed the markets. Poor results also dragged other PSU stocks like Canara Bank lower.

Software stocks lent support to the indices with Infosys and TCS among the gainers in trade. Other Nifty gainers included NTPC, ONGC and Reliance Industries.

Mid cap stocks which rallied in the last few trading sessions dropped in trade. Aurobindo Pharma, Adani Enterprises, Voltas and Steel Authority of India were the mid cap stocks that lost ground.

Bharti Airtel also rallied substantially in early trade after Reliance Jio did not win 900 mghz spectrum gave up gains towards the end of the session.

Dishman Pharma fell sharply after its results disappointed the markets. The stock was down 8.75 per cent in trade.

Meanwhile, most of the Asian markets ended the day with gains after China inflation came in higher than expected. Among the markets that gained in trade were the Hong Kong's Hang Sang, the Seoul Composite and the Taiwan Weighted.

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