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Closing Stocks: Telecom and Metal Witness Buying

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Indian markets ended flat in the first session of the month, as strong volatility gripped in trade throughout the day.

The Sensex closed 8-pc higher at 40,802, while the NSE Nifty50 settled 8 points lower at 12,048. The Nifty Midcap & Smallcap indices were closed down 0.7 & 9pc, respectively.

Bharti Airtel, JSW Steel, Reliance, Grasim and AsianPaints were the top out-performers in the Nifty50, while Yes Bank, Eicher, Bharti Infratel, Bajaj Finance were major losers.

All sectoral indices, other than Nifty Metal, closed the day in the red. Massive selling was seen in the Technology socks (IT), auto and banking sectors with Nifty PSU Bank, Nifty IT and Auto, and indices fell nearly 1pc, Nifty Pharma was down 0.8pc, Nifty Realty slipped 0.35-pc, whereas Nifty FMCG & Nifty Bank lost 0.2pc each. Meantime, Nifty Metal advanced over 0.3% for the day. For Free stock trading tips  and top stock tips visit our website.

elecom Stocks closed in profits, on tariff hike implemented by the companies. Bharti Airtel went up over 4pc on closing, while Vodafone Idea advanced 13.87% and Reliance climbed 2.30% for the day.