Nifty ends above 5400; Power Grid, Tata Steel, Bharti gain
30 Aug 2010
At 15.30 hrs IST, the Nifty ended above 5400 amid volatility. The markets witnessed a see-saw trade today on back of mixed global cues and news of Direct Tax Code introduction in the Parliament.
The markets shed its earlier morning gains on Direct Tax Code (DTC) Bill, which was on expected lines. According to the new DTC Bill, first returns should be filed after 31 March, 2013 reports CNBC-TV18. It will be effective from April 1, 2012.
Meanwhile, Asian markets ended on a firm note. Nikkei, Seoul Composite, Straits Times, Hang Seng, Taiwan Weighted and Shanghai Composite gained in the range of 0.50-1.75%.However, European markets were trading flat to positive.
Metal stocks hogged the limelight in today's trade and buying was also seen in auto and realty stocks. However, FMCG, IT and capital goods stocks ended in red.
The Sensex closed at 18038.25 up 39.84 points or 0.22% and the Nifty was up 6.75 points or 0.12% at 5415.45. About 1421 shares advanced, 1647 shares declined, and 314 shares remain unchanged.
Power Grid Corp, Tata Steel, ABB, Bharti Airtel and ONGC ended with gains of 2-4%. On the losing side, HCL Tech, Siemens, Suzlon Energy, IDFC and Sun Pharma lost 1-2.5% in today's trade.