The markets ended the week on a higher note, on buying in FMCG, Metals, while heavyweights such as BHEL, ONGC and L&T saw profit booking. Global cues played their part in boosting investor sentiment. We saw many banks reporting their earnings and banks with higher NPA’s did see some sell off’s post their results. Yesterday, ECB Mario Draghi stated that they would do their very best to prevent any kind of a collapse of the Eurozone. That was propped the Asian markets in the day. Asian markets rose on average by a 1 – 2 percent in hope of stimulus and rescue hopes.
The Sensex closed 199.37 points higher at 16839.19 points (+1.20%). The Sensex touched lows of 16776.16 and highs of 16975.03 points in intraday trade. The Nifty ended at 5099.85, up 56.85 points (+1.13%). It touched highs of 5147.75 and lows of 5079.40 points. Europe opened marginally higher but is mixed in trade.
On the stock front, Hero Motocorp declined 2 percent and Tata Motors rose 3 percent, recovering its losses of yesterday. ICICI Bank advanced 2 percent on higher earnings numbers. Sun TV declined massively on graft charges against its owners for taking bribes. TCS overtook ONGC to become the most valued firm at INR 137,500 cr. Most banking stocks were down on account of the weak financial numbers posted by various PSU banks.
Well, to end the report, US GDP numbers would come out tonight and could sum up the trend today.
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(Economic Times, Business Standard and CNBC)
Categories: General News