Markets End on a Firm Note

Markets reversed early losses and ended higher as investors picked up beaten down frontline stocks. Nifty opened lower following weak global cues after Ben Bernanke said that the US economy was weak and interest rates would remain unchanged for an extended period. The index touched a low of 5,252 in opening trades and quickly changed course on bargain buying in frontline shares such as Reliance Industries, Infosys and ITC. The S&P CNX Nifty touched a high of 5,330 in afternoon session. The Nifty ended near day’s high, at 5,320, up 41 points and the Sensex closed at 17,727, up 176 points. The market breadth was negative with 1160 on the advances as against 1611 declines.