Mkts end flat as European stock rebound
Snapping 4-day losing streak, the Indian stock markets staged a recovery on Friday to close flat. Heavy fluctuations made investors seen nervous till the late recovery on Friday.
Mumbai: Snapping 4-day losing streak, the Indian stock markets staged a recovery on Friday to close flat. Heavy fluctuations made investors seen nervous till the late recovery on Friday.
The week was suffered badly with Sensex losing 1631 points and Nifty down over 500 points, a worst week since October 2008. Analysts say the recovery is due to crude prices which stood at $27 a barrel kept the sentiment mildly positive.
Sensex closed 22,986, up by 34 points, Nifty ended 5 points gain, at 6,981. Meanwhile, the broader markets underperformed with midcap and smallcap down 0.7 per cent and 1.2 per cent, respectively.
On the sectoral front, all sectors excepting auto, FMCG and IT stocks have reported gains. The Tata Motors shares posted gains over 8 per cent as the Deustche Bank upgraded company status to 'hold' from 'sell'.
The other stock, Sun Pharma, which reported better-than-expected quarter numbers, closed 2 per cent up. The PSU firms ONGC and BHEL fell 4.5 per cent and 13 per cent, respectively.
The gainers: Tata Motors, up 8.34 per cent at Rs 298.65; Bharti Airtel, up 5.40 per cent at Rs 325.25; Mahindra and Mahindra, up 3.77 per cent at Rs 1,168.40; Axis Bank, up 3.52 per cent at Rs 390.80; and NTPC, up 2.44 per cent at Rs 124.05.
The losers: BHEL, down 13.13 per cent at Rs 104.55; Adani Ports, down 5.20 per cent at Rs 178.70; ONGC, down 4.56 per cent at Rs 193.55; Larsen and Toubro (L&T), down 3.53 per cent at Rs 1,053.70; and Tata Steel, down 3.18 per cent at Rs 217.85.