Market Wrap: Range-bound close to week

European uncertainties and stress test results cast a shadow over the markets. The frontline indices traded in a tight range and closed in the negative territory. The nifty slipped further from the 5,600 resistance zone and closed 18 point down. The Sensex closed 56 points lower at 18,560.

In individual name like TCS was strong after declaring numbers late last evening. The stock started strong, but gave up some gains to close up 2%. Reliance industries also closed marginally in the green. Tata Motors was the big loser down 3.2%.
The oil and gas pack was also subdued with ONGC losing 1.5% and GAIL down 2.3%. The midcap index closed flat, but in the green territory. Below is the verbatim transcript of CNBC-TV18's managing editor Udayan Mukherjee's analysis of the day. Also watch the accompanying video.
It was a very range bound session to close the week with. Right from the word go, the Nifty slipped into a bit of a range. It oscillated a bit during the course of the day, but within a tight range between 5,560-5,600 levels.
The big winner of the day was TCS. It started the day 4% higher after very impressive results. It gave up a bit towards the end, but managed to close in the green. Reliance Industries did not have a bad session for most of the trading day.
While we were closing trade, Europe was a bit soft which might have reined in any possibility of exuberance. On the way down, Tata Motors lost some ground today. The oil and gas pack was a little subdued with names like ONGC and GAIL.
Some of the ADAG group names like Reliance Power and Reliance Infra were not too strong. A couple of financials like HDFC and Kotak were not exactly buzzing today. The two stocks, which deserved mention today, are TCS and Tata Motors.