A mixed trend was observed among Tata group stocks on Thursday as the nation mourned the death of Ratan N. Tata, the former chairman of Tata Sons. However, investors kept faith on the growth path of its group firms despite the sad news.

While shares of TRF finished with gains of 6.31 per cent on the BSE, Tata Investment Corporation ended 5.71 per cent higher at ₹6,924.40 and Tata Chemicals by 4.07 per cent at ₹1,150.60. Tata Steel rose 0.41 per cent, Tata Power gained 1 per cent, Tata Communications by 0.17 per cent, Nelco by 0.85 per cent and Tata Elxsi by 1.99 per cent.

Among the laggards, Tata Consumer Products dropped by 0.47 per cent, Tata Motors by 1.10 per cent, Rallis India by 0.45 per cent.

This came on a day when the benchmark indices ended on a positive note due to a rally in banking and power stocks. The 30-share BSE Sensex finished 144.31 points, or 0.18 per cent higher at 81611.41. During the day, it jumped by 535.74 points, or 0.65 per cent, to hit an intra-day high of 82002.84. The NSE Nifty was up 16.50 points, or 0.07 per cent, to close at 24998.45. Earlier in the session, it touched a high of 25134.05, a rise of 152.1 points, or 0.60 per cent.

“The market was trading lacklustre in the absence of any major trigger and continued selling by FIIs. Overall, we expect the market to consolidate in a range with stock-specific action,” Siddhartha Khemka, head - research, Wealth Management, Motilal Oswal Financial Services Ltd, said.

From the 30 Sensex pack, Kotak Mahindra Bank, JSW Steel, HDFC Bank, Power Grid, IndusInd Bank, Maruti Suzuki India, NTPC, Axis Bank and Mahindra & Mahindra were among the gainers as they rose up to 4.16 per cent.

“The market traded on a range-bound trend with a negative bias ahead of the start of Q2 result.

“The Asian market started well but could not hold on to the gains as European markets waved on a negative trend in anticipation of the key US inflation data, global bond yields are rising,” Vinod Nair, head of research at Geojit Financial Services, said.