Nifty Ends Higher After Thursday’s Carnage, UPL Top Loser

The Nifty and the Sensex ended the day higher, as global cues were better. The Sensex which had lost more than 1,000 points on Thursday managed to end the day slightly below the 40,000 points mark at 39,983 points.

The Nifty on the other hand ended the day with gains of nearly 82 points. Shares in UPL plunged as much as 8 per cent, after the auditors of its subsidiary resigned.

"In order to re-organize the Audit Process to improve Productivity, at the request of the Company, KPMG Mauritius has resigned as Statutory Auditors of UPL Corporation Limited, Mauritius. M/s. BSR & Co. LLP, Chartered Accountants, continues to carry out the audit of Group Consolidated Financials of UPL Ltd, India which includes UPL Corporation Ltd, Mauritius and its subsidiaries. M/s. BSR & Co. LLP is a sub-licensee of KPMG in India," the company said in an exchange filing.

Shares in multiplex player, Inox Leisure lost ground even as the company informed the exchanges that it has begun the process to re-open its facilities in 10 Indian states.

Metal stocks were the biggest gainers in trade today with JSW Steel, Tata Steel and Hindalco among the top three winners from the Nifty.

Reliance Industries fell, while the Bank Nifty was a big gainers led by HDFC Bank and ICICI Bank.