Sensex, Nifty end flat; broader markets rally

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Sensex, Nifty end flat; broader markets rally
The Sensex and the Nifty ended the day flat, despite gains in the broader markets. The Sensex ended the day higher by 14 points, while the Nifty rallied 11 points in trade.

Action today shifted to the broader markets with small and mid sized construction companies seeing a rally. Gammon Infra gained a staggering 10 per cent, while Gammon India also gained 10 per cent. Other notable winners in trade were construction company HCC, real estate major HDIL and Unitech.

Sensex gainers in trade today were some of the IT stocks like Infosys, TCS, Wipro and HCL Tech which saw heavy bear hammering on Monday.

Metal stocks saw a huge surge in trade with Hindalco, Tata Steel and Sesa Sterlite seeing a spectacular rally.

Select Nifty stocks saw profit booking with Reliance Industries ending the day lower by three per cent, while ONGC and State Bank also lost ground. Coal India was the top loser in trade falling as much as 6 per cent.

United Bank which has been saddled with huge levels of non performing assets, gained 8 per cent today, after the company announced fund raising plans.

The stock of Tribhoovandas Bhimji Zaveri was up in trade despite the company reporting lower than expected profits.

The PSU banking index ended the day lower with State Bank of India, Bank of Baroda and Oriental Bank of Commerce ending with mild cuts.

Meanwhile, markets in Europe were trading with losses with the German DAX, French CAC and the UK's FTSE ending the day with losses.

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