Markets End The Day Higher; HUL Drops 3% Post Results

Business

oi-Sunil Fernandes

By Sunil Fernandes

Updated: Tuesday, July 19, 2016, 15:32 [IST]

Benchmark indices ended the day flat, after trading in the negative zone throughout the trading session as European cues remained weak.

The Sensex ended the day highey by 40 points, while the Nifty gained 19 points in trade. The biggest loser from the Sensex was Hindustan Unilever, which dropped following a poor set of results. Other notable losers in trade were Mahindra and Mahindra, Vedanta and HDFC Bank.

Stocks that gained ground in trade were some of the PSU banking stocks like Allahabad Bank, which saw a fresh capital infusion from the government. Canara Bank too rallied after reports that the bank has received Rs 997 crore out of total recapitalisation fund (Rs 22,915 crore) from the government.

Mindtree shares saw a big fall after the company reported a disappointing set of results for the quarter ending June 30, 2016. The net profits of the company fell 7 per cent in dollar terms.
Jaiprakash Power Ventures was up 4 per cent after reports that JSW Energy had acquired 500 MW Bina thermal power plant from Jaiprakash Power Ventures.

Meanwhile, Asian markets were trading mixed, while most of Europe was lower. Shares in Essel Propack gained as much as 3 per cent, after the company said that it had opened a new unit in Colombia.

The rupee was last seen trading at 67.23 to the US dollar. Check and convert currency rates here

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