The markets were flat today. It never looked like it would be a lively session of trade, said Udayan Mukherjee, Managing Editor of CNBC-TV18. If there were any hopes in the morning that the markets might put in a little bit of an effort on the way up, the hopes were punctured by the disappointing IIP numbers.
Still, bank stocks like SBI, HDFC Bank and Axis Bank did quite well. Jaypee Associates put in a good performance today, as did IDFC but it was a disappointing session for names like DLF or Tata Steel and cement companies such as ACC and Ambuja.
The market breadth was not special and it was a day of individual stocks. United Spirits surprised with the 35 percent move. It's not a small cap or midcap but, it just added a third to its market cap after the Diageo deal, clearly leaving no doubt on what the market thought of that deal. United Spirits was certainly the star of the sessions.
However, it did not quite reflect in the other UB Group stocks likeUnited Breweries and UB Holdings. The stocks lost about 4 percent or 5 percent a piece. L&T Financial Holdings had a good ride today. Ashok Leyland looked strong and DB Realty was another one which did well. Indiabulls Realty and HDIL in the real estate space also did quite well.
Manappuram has been slipping ever since its weak numbers came out. It had another bad day today and stocks like GVK, Pantaloon and Zee also lost some ground. It was a mixed bag but, the day will probably be best remembered for the spectacular performance of United Spirits.