Markets trade flat; IDFC falls post results

Published: Monday, April 28, 2014, 9:38 [IST]

Markets were trading flat after opening marginally weak in trade on poor global cues. The Sensex was trading with gains of 18 points, while the Nifty was trading with gains of 6 points.

Shares in IDFC fell after the company's results disappointed. The stock was down 3 per cent in trade. Among the other Nifty stocks that fell in trade were HDFC, Coal India and BPCL.

Stocks that gained ground in trade were Larsen and Toubro, TCS and heavyweight reliance Industries. Shares in Hindustan Unilever were trading flat ahead of its results to be decalred later today. Idea too was trading flat ahead of its results.

Mid cap stocks saw some buying interest. The EID Parry stock was up 2 per cent after the company's 100 per cent stake in Alimtec SA, Chile.

Shares in UPL were up almost 7 per cent from the mid cap space while other winners were Karnataka Bank and GMR Infra. IDBI Bank which is slated to report Q4 numbers today was trading marginally lower.

Realty stocks which had rallied substantially on Friday were witnessing a subdued trend. Among the stocks that lost ground were DB Realty, Sobha Developers and Godrej Properties.

PSU banking stocks saw some selling pressure in trade today with Indian Overseas Bank, Andhra Bank and Oriental Bank seeing some selling pressure.

Meanwhile, markets across Asia were trading with losses with the Hong Kong's Hang Sang and the Shanghai Composite witnessing cuts of more than one per cent.

GoodReturns.in

Story first published: Monday, April 28, 2014, 9:38 [IST]

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