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Markets end higher ahead of US Fed Meet; Sensex ends above 27,000 points

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The Sensex and the Nifty ended the day higher led by hopes that the US Federal Reserve may sound more hawkish ahead of the conclusion of its 2-day policy meet.

 

The Sensex ended the day higher by 217 points, while the Nifty closed the day higher by 63 points. Leading the set of gainers from the Nifty were stocks that were beaten down badly with names like Jindal Steel and DLF rallying in trade.

Markets end higher ahead of US Fed Meet; Sensex ends above 27,000 points
Other stocks that gained ground was Tata Motors and Tata Steel which saw a spectacular run in trade. Automobile stocks in general had a strong day with stocks like Mahindra and Mahindra gaining ground.

Nifty stocks that saw some selling pressure were Larsen and Toubro, NTPC and NMDC. Hindalco had a good day in trade with the stock ending 5 per cent higher.

Mid cap stocks also had a good session with notable winners being Havells and India Cements. Hindustan Unilever which reported numbers that lagged estimates on Wednesday ended the day higher after having dropped on Thursday.

PSU banking stocks had a bad day in trade with Oriental Bank of Commerce falling 4 per cent on the back of disappointing results.

 

Meanwhile, markets across Europe and Asia rallied on hopes that the US Fed would sound more dovish.

GoodReturns.in

Story first published: Wednesday, October 29, 2014, 15:41 [IST]
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