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Markets Ends Flat After Relentless Rally; Europe Subdued

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Benchmark indices ended the day flat after the relentless rally seen in the last few days as markets took a breather and some profit booking was seen at higher levels.

 

Global cues were also subdued with European markets seeing some profit booking, while buying was restricted after sharp gains of the last 1 week.

Markets Ends Flat After Relentless Rally; Europe Subdued
The Sensex ended the day with gains of 7 points, while the Nifty saw losses of 15 points. Leading the set of gainers was Vedanta, which once again saw huge buying support in trade.

Shares in ITI jumped a huge 16 percent after reports that the Cabinet had approved sale of assets of the company. On the other hand NBCC lost 9 percent on equity dilution concerns after the government cleared stake sale in the company.

Banking stocks saw some selling pressure in trade with stocks like IndusInd Bank, Yes Bank, Punjab National Bank seeing selling pressure.

Shares in Gati fell after the Secunderabad court restrained Gati from pursuing corporate action like merger, declaring dividends, disposing of assets. The stock ended the day lower by 5 per cent.

 

Shares in Kwality rose more than 3 per cent after reports that the company has raised Rs 520 crore from KKR.

Meanwhile, markets across Asia ended the day lower, while most of Europe was trading with marginal gains.

GoodReturns.in

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