The markets continued doing something that it started last thursday. It kept closing with gains and this Thursday too, crawled closer to 16,000. Although in positive territory, Thursday's trade contributed little to the trek up Mount 16K.
After a volatile day's trade, the markets closed flatter than an empty tube of toothpaste. And similarly the gains it offered were also in the form of a trickle.
The markets moved early on the basis of weak cues from global markets. On the domestic front, short-covering and the revealing of India’s foreign trade policy were major positive which helped keep equities in positive territory, say experts.
The Sensex was up 11.22 points. This rise of 0.07% had the index closing at 15781.07. Consumer Durables was the top gainer of the day. It was up 4.11%. Capital goods rose 1.16% while Healthcare rose 1.13%. Realty, Bankex and Metal were three indices that ended marginally in the red.
In global markets, the Nikkei was down 1.56%. The Hang Seng was down 1.04%. European markets were mostly, though marginally, showing gains.
The Nifty closed at 4696.05, adding 15.20 points or 0.32%. GAIL was the top gainer of the day, rising 3.87%. The stock closed at Rs 343.40. HCL Tech was up 3.68% to close at Rs 312.90. National Aluminium, Cipla and Bharti Airtel also clocked gains.
Tata Steel headed the list of losers. It dropped 5.32% to close at Rs. 435.70. The company had announced disappointing results with its June quarter showing a loss of Rs 2208 crore compared to a Rs.3900 crore profit in the same quarter the previous year.
Tata Motors, Rpower, HUL and Suzlon all ended with losses of between 2% and 3%. There were 26 advances among the Nifty set and 24 declines.
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