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Recovery at close from day lows. ADAG stocks gain.

Markets have ended with recovery from the low levels of the day. The Sensex and Nifty saw a moderate reversal during the close of the session, helping the indices to close above the intraday low points. ADAG stocks were in the buying radar, which helped the indices.

The Nifty managed to shut shop at 5327, down by 58 pts or -1.08%. Earlier during the noon trade, the indices had tested lows of 5300.

State-run ONGC fell 0.5% due to tepid response to its auction of share sale. Government received bids for 1.4 crore shares till 2:45 pm as against ONGC’s offer for sale of 42.77 crore equity shares and the offer will close at 3:30 pm.Shares of ICICI Bank, L&T and BHEL were down 2.5-3%. Reliance Industries and Infosys slipped 0.9%. SBI, country’s largest lender, was down 1%.
DLF too recovered from day’s low, falling 4%. The stock had tanked 9% after sources say there are no takers for its Mumbai land parcel citing price is too high.

Anil Dhirubhai Ambani group’s Reliance Power and Reliance Infrastructure gained 2.5-3%. Reliance Communications rose 1%.

Suzlon energy recorded a whopping gain of over 11.5%


 

 

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