Markets end higher, FMCG leads - Cholamandalam Securities

Markets ended higher, amid a volatile trading session, on the back of strong buying interest in FMCG majors HUL and ITC.

Banking shares extended losses after RBI measures to stem the fall in rupee and increase in borrowing costs would hurt credit growth and also impact net interest margin.

Eicher motors ended higher after FII's increased the stake in the by over 3 %age points during April-June quarter.

Among sectoral indices IT, Power, Consumer durables and Oil and gas gained while Auto, Realty and Capital goods lagged.

Markets are expected to open on a flat note with positive bias on dovish comments by US Fed Chairman Ben Bernanke. IT stocks to remain in focus ahead of TCS results today.

Source : Equity Bulls

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