Markets End Higher Snapping 3-Day Losing Streak : 05 May 2016


Benchmark indices ended the day higher led by solid gains in European markets, which opened the day flat, but, gained as the trading session progressed.

Taking cues from European markets, Indian indices too gained ground, breaking a 3-day losing streak.

The Sensex ended the day with gains of 160 points, while the Nifty was up 28 points in trade.

Shares that gained ground were HDFC, Tata Motors, Bharat Heavy and heavyweight ITC. Idea Cellular was the biggest loser and dropped as much as 4 percent after reports that the company may bid for auctions in June that could increase debt levels.

Adani Ports, which fell as much as 14 per cent in trade yesterday, dropped another 5 percent, following reports of an equity dilution at the company.

Shares in Sun Pharma gained after the company announced positive results of two pivotal phase-3 clinical trials of Tildrakizumab.

PSU Banking shares which had fallen sharply in trade, managed to see some recovery on the back of buying interest. Bank of India and Allahabad Bank were among the gainers from the space.

Camlin Fine Sciences' gained ground after reports that subsidiary CFS Mexico acquired 65% stake in Dresen Quimica, Mexico.

Midcaps also had a good session in trade with Bata India and GMR among the gainers. Meanwhile, most of Asia ended the day mixed, while Europe was trading with goods gains.
Markets End Higher Snapping 3-Day Losing Streak : 05 May 2016 Markets End Higher Snapping 3-Day Losing Streak : 05 May 2016 Reviewed by Money99 on 16:19:00 Rating: 5

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