Markets see turnaround on positive Euro news

The Indian markets saw a huge turnaround in the last trading session today. The benchmark Sensex gained over 200 points, while Nifty gained over 68 points. Both indices closed the day with intraday returns of 0.62% and 0.70% respectively.

This heavy turnaround was seen as soon as the European markets opened on a positive note. The rally was attributed to the positive PMI data across the European countries. FTSE, CAC and DAX all are currently trading with over 1% gains.

Earlier, the Asian markets closed with mixed trends. The Hang Seng and Shanghai shed a few points, while Nikkei was marginally up.

19 of the 30 Sensex stocks made it to positive territory by the end of the day. Jindal Steel was the top gainer, surging by 6.43% by the end of the day. Tata Power was also up by 6.02%. Other Metals stocks like Hindalco Industries and Tata Steel were also up by over 4%. L&T saw gains of 2.64%. All the Auto stocks gained after Maruti Suzuki announced its sales numbers today. Further, RIL saw its stock gaining 1.82% after it opened up its buyback offer. Coal India, on the other hand, did not participate in the day's end rally and closed in the negative, joining the ranks of ICICI Bank, ONGC, HDFC, Bharti Airtel, ITC, etc.

Among the ‘A’ group stocks, IFCI gained 8.55% and PFC gained over 8%. Crompton Greaves was also up by 8%. However, IOC was seen losing 5.81%. Titan Industries was also down by 2.69% over lower-than-expected growth in its net profit. Relaxo Footware though, touched the upper circuit.