Markets end stable

The markets ended higher today after rallying hard on Tuesday on the back of no negative surprises from the credit policy. Initial trade was sluggish in line with the rest of the Asia. However, the markets took a U turn post lunch and moved back into the green. In broader markets, the midcap and smallcap index outperformed frontline indices, which gave the market reasonably good breadth. Turnover was also higher ahead of the F&O expiry day.The rupee continued to rally adding pressure to technology stocks.

The Sensex ended up 81.05 points, or 0.57%, at 14217.77. The Nifty gained 25.50 points, or 0.62%,to end at 4167.3.

Ranbaxy, Cipla, Hero Honda and Grasim were the top gainers on the BSE while Infosys, Tata Steel, Satyam, GAIL, Zee Entertainment led the losers pack.Index heavyweight Reliance Industries (RIL) advanced 1.11% to Rs 1598.It had recovered from a low of Rs 1560, and had surged to a high of Rs 1605.15.IT stocks came under selling pressure. Infosys Technologies lost 1.85% to Rs 2020 and was the top loser.Satyam Computer dropped 1.67% to Rs 467.Bharti Airtel (down 1.33% to Rs 862), NTPC (down 1% to Rs 156.80) and L&T (down 1.20% to Rs 1683) slipped.