Markets did a fair amount of recovery to close flat. Earlier the bourses had seen large cuts in the opening trade.
Nifty managed to close almost flat at 4744, down by 2 pts or -0.05%.
Metal and ore stocks were the rebounding stars. Almost all the metal counters ended up in the green with good amount of gains.
Guj NRE Coke recorded a gain of over 7% at close. Jindal steel was up by 2.6%.
Unitech, from the real estate arena, was up by 5.7%. HDIL managed to close up by nearly 4%.
Punj lloyd closed 4.6% higher. L&T remained steady and closed 0.7% higher. JP Associates closed 2.8% in the green. IVRCL Infra did a u-turn and managed to close 5.4% above.
Sugar stocks also had a good run. Renuka sugars closed 7% higher, while Bajaj Hindustan closed 6% up.
Bharti Airtel, from the telecom space, was the major loser on the index. The stock was down by 3.25%. RCOM also followed with 0.6% cuts.
Index heavy weight RIL closed with 1% cuts. Other heavy weights – ICICI Bank, Infy and ONGC managed to close flat.