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Markets close in green after 6 days of bloodshed

August 10th, 2011

The positive sentiment represented by the closing of the US markets in the green yesterday  was echoed by the Asian markets which were largely positive in session today. Sans the Straits Times, almost all major nation index in Asia Pacific was in green. The Sensex closed the day at 17130.51 up 272.60 points while the NSE Nifty is at 5161 up 88.15 points.

Except the Oil & Gas and FMCG, almost all sectoral index in the Indian markets closed the day in the green with Autos and Banks showing the major positive movement. IOC reported a Q11 loss at Rs. 3719 crores and that has hurt the sentiments in the oil sector.

Top gainers of the day are Tata Motors (up over 6%), Maruti Suzuki, Mahindra & Mahindra, Hindalco (all three up over 5%), SAIL, DLF, Jaiprakash Associates and Bajaj Auto (all up over 4%). On the losers end are Grasim, ONGC (each down over 2%), ITC and Cairn India (each down over 1%) amongst others.

GMR Infrastructure (BSE: 532754; NSE: GMRINFRA; ISIN: INE776C01039) posted a Q1 loss of Rs. 66.7 crore during. The company I eyeing FY12 revenue at Rs 8000 cr. A Subba Rao, Chief Financial Officers said that the depreciation and interest costs for the Delhi airport has hurt the bottom line. Thanks to the positive sentiment in the markets today, the script managed to close the day in the green. GMR Infra closed at Rs. 30.85 up 0.75 or 2.49%.

Entry Filed under: Equity Markets, Closing Bell, Infrastructure