Reports » India

Indian stock market daily closing report (October 31, 2012)

Contributed by Nirmal Bang

Indian Markets remained choppy today, but the Nifty managed to close above 5600 as it gained strength in last hour of trade. The Market lost 1.4% in the month of October on the back of around 6% gain in the month of September. Hindalco was the top gainer on Sensex, on account of the Essar Energy securing stage 1 forest clearance for Mahan coal block. The Mahan coal block is a joint venture between Essar Energy and Hindalco. Buying pressure was observed in Auto stocks today on the positive expectation of monthly sales, which is scheduled tomorrow.

The breadth of the market was positive in today’s trade.