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Markets end firm after volatile session

Markets end firm after volatile session
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First Published: Mon, Jul 21 2008. 04 10 PM IST
Updated: Mon, Jul 21 2008. 04 10 PM IST
By Livemint.com
New Delhi: The markets ended firm after a volatile session with the benchmark index settling at 13,850 levels, up 1.6% or 215 points. In broader markets, the Nifty closed up 67 points at 4,159 levels.
“Markets are expected to remain volatile due to political uncertainty. Nifty faces resistance at 4,100 – 4,110 levels and once this region is crossed, it may move up to 4,160, 4,190 and 4,230 levels,” said a technical analyst with Religare Securities.
Leading the pack of gainers among the BSE 30 scrips was Cipla. The counter moved up 5.2% by close of trade. HDFC Bank, Ranbaxy Laboratories, ICICI Bank, State Bank of India, Maruti Suzuki, Wipro and DLF Limited were some of the other notable gainers.
Among sectoral indices, the banking index, bankex, was the top gainer that firmed up 3.9%. Union Bank, Bank of India and Bank of Baroda edged up over 6% by close. Andhra Bank, Indian Overseas Bank and Punjab National Bank also ended in positive turf besides HDFC Bank, State Bank of India and ICICI Bank.
Strength was also visible in pharma counters with Cipla and Sun Pharma clocking gains of over 5%. Dishman Pharma, Ranbaxy Laboratories, Dr Reddy’s Laboratories, IPCA Labs, Orchid Chemicals and Biocon also witnessed fresh investor interest.
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First Published: Mon, Jul 21 2008. 04 10 PM IST
More Topics: Markets | Stocks | Sensex | Nifty | BSE |