Markets reversed early losses and ended with gains on sector specific actions.
The Sensex, after a soft opening, dropped to a low of 17,856 as IT stocks declined. The markets remained volatile through the day but managed to recover its losses and touched a high of 17,856. The Sensex finally ended at 17,986 - up 49 points.
The NSE Nifty ended at 5,401 - up 18 points.
IT index fell 2.6% today to 5,398 following Infosys results in the morning.
The group has posted a consolidated net profit of Rs 1,488 crore for the quarter ended June 2010, as compared to Rs 1,525 crore for the quarter ended June 2009.
However, the total Income increased from Rs 5,741 crore in the year ago quarter to Rs 6,437 crore during the quarter ended June 2010.
BSE FMCG and healthcare indices were also in red. However, the realty index jumped over 4% to 3,471. Consumer durables, oil and metal indices were also in green.
Infosys tumbled 3.5% to Rs 2,795. TCS shed 2% at rs 775. Wipro dropped 1% to Rs 406.
Bharti Airtel declined 1.8% to Rs 300. Reliance Communications was down 15 at Rs 189.
Mahindra & Mahindra, ACC and Hindustan Unilever were the other losers today.
Meanwhile, DLF jumped 4% to Rs 316. Jaiprakash Associates gained 2% to Rs 130.
Tata Steel added 2.2% to Rs 508. Hindalco advanced 1.2% to Rs 151.
HDFC advanced 2% to Rs 3,063. Tata Motors and Reliance added 1.8% each.
BHEL, SBI, HDFC Bank and ICICI Bank also were up over 1% each.
BSE market breadth was positive. Out of 3,001 stocks traded, 1,690 advanced while 1,193 declined.
