Sensex closes up 7 points - LuvKush Finserve

Volatile markets ended the day on a flat note with the Sensex ending up seven points at 19,643. Positive cues from the global bourses and gains in Reliance Industries, were offset by selling pressure seen in banking and metal shares. The Nifty ended at 5,943 up three points.

BSE oil & gas index surged 1.7% at 9,170. The realty index also gained followed by IT index. However, BSE consumer durables index shed 1.3%, followed by FMCG, Metal and bankex. IT stocks edged higher.

Among other key gainers were Hero MotoCorp, Coal India and Gail. However, weakness could be seen in Cipla, Tata Motors and Jindal Steel. Tata Motors Ltd plans to recalibrate its strategy by cutting on expansion and shifting focus to manufacturing new models.

Several sugar stocks dipped into red. High cost of production and low realisation is likely to pull down operating profit of sugar companies during the ongoing season 2012-13 (October–September), a Care Ratings study forecasts. Balrampur Chini, Triveni Engineering slipped 2-4% each.

Source : Equity Bulls

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