Markets show smart recovery; end on a flat note

10 March 2008

It was a dramatic day for markets as they opened in red slipped further but showed smart recovery towards the end of the day. Recovery was led by PSU bank, metal, oil stocks. Hang Seng showed recovery of 600 points and ended in green up 200 points. Sensex has recovered nearly 550 points from the day's low and Nifty has recovered 170 points.

Among the gainers were Bharti, ACC, Cipla, Tata Steel, Reliance Petro, Sterlite Ind, JP Associate, M&M, Cairn India and HCL Tech.

SBI, PNB ended in positive terrain. Heavyweight ONGC is also helped in the recovery.

Punj Loyd, HCC, GMR Infra are the midcap stocks closed in green.

L&T might book hedging losses in UAE arm and the stock was down over 8% followed by BHEL, Unitech, Dr Reddy's Labs, Tata Power, Reliance Energy, Siemens, Tata Motors, Wipro, ABB and ICICI Bank.

The BSE Midcap Index ended at 6,767.92 down 0.54%.