Sensex ends higher after last one hour rally

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Sensex ends higher after last one hour rally
Markets ended the day higher after recovering in the last one hour of trade, on hectic short covering.

The Sensex ended the day higher by 35 points, while the Nifty closed  higher by 11 points at 6504 points. Among the top losers in trade today were the banking stocks with ICICI Bank, IndusInd Bank, Kotak Mahindra Bank and Yes Bank among the major losers.

Infosys, which had fallen as much as 8.5 per cent on Thursday ended the day higher by one per cent. However, other IT heavyweights including HCL Tech and Wipro lost 2 per cent each.

Sun Pharma which had also lost heavy ground on Thursday ended the day with gains. Real estate stocks had a mixed day in trade with DLF gaining ground, while Sobha Developers dropped more than three per cent.

Crompton Greaves rallied sharply on news reports that the Thapar's were planning to sell their stake in the company.

Mid cap stocks ended the day lower in line with the index stocks with Havells India dropping three per cent and India Cements falling four per cent.

Shares in Multi Commodity Exchange of India fell after reports that the MCX-SX Chairman had quit. A few Nifty stocks that ended with gains were Dr Reddy's Labs and Hero Motor Corp.

Meanwhile, most of the Asian markets fell sharply in trade led by losses in the Japanese Nikkei. However, the Jakarta Composite was the only market trading with smart gains.

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