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Nifty Ends Higher; Global Cues Quiet

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After immense volatility through the entire week, benchmark indices ended the day higher, tracking global cues, which were subdued.

The Sensex ended the day higher by 59 points, while the Nifty rose 19 points in trade. It was a quiet day of trading with markets moving between losses and gains.

Nifty Ends Higher; Global Cues Quiet
Banking stocks today were the winners and led gainers in trade. Among the winners were the recent laggards including the likes of State Bank of India and ICICI Bank. Hero Motor Corp was the top gainer from the Nifty space. Other notable winners were those from the auto and 2-wheeler space including the likes of Hero Motor Corp, Bajaj Auto and Mahindra and Mahindra.
 

Vedanta, Maruti and Coal India were the prominent losers from the Nifty. Shares in Quickheal,which fell sharply after listing on Thursday saw some buying support.

PSU Banking stocks rallied despite reports from Fitch that the credit profile of these banks remain at risk, if they are unable to raise fresh capital. Shares in Punjab national Bank rallied after reports that the bank was looking to sell investment in subsidiaries and real estate in order to raise capital. Union Bank and Allahabad Bank were the other gainers in trade.

Select Midcap stocks saw some selling pressure with SUN TV, Just dial and Unitech among the losers. Meanwhile, markets across Asia ended the day with losses, while most of Europe was trading flat.

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