Market breathes sigh of relief after sell-off; Nifty up 16 pts

Indian markets staged a modest rally after their recent broad-based sell-off in light of emerging market turmoil.
Barring auto, all other sectoral indices ended in the green with financials, fmcg, technology, metal, infra and energy-related stocks spearheading the bounce.
The 50-share index fluctuated between a high of 6,097.85 and low of 6,067.35 before finishing at 6,089.50, advancing by a slightest margin of 15.80 points, or 0.26 per cent, over its previous close.
The NSE bellwether index had lost a massive 256 points in a matter of five trading sessions spooked by concerns about spillovers from fresh global turbulence on the back of growth slowdown fears in China and US Federal Reserve's decision to withdraw its massive stimulus measures.

Meanwhile, most Asian and emerging markets remained under intense selling pressure, rattled by investors jitters.
Trading began on a modestly positive note taking cues from overnight rally in US markets with good buying in beaten down select heavy weights, also supported by firm rupee sentiment. It traded in a narrow range throughout the day amid volatility before concluding with marginal uptick.

PNB, Bank of Baroda, ACC, Tata Power, BPCL, GAIL, Tata Steel, M&M, DLF and Bharti Airtel were among the prominent index stock gainers.
Key losers included Tata Motors, HDFC, NTPC, Grasim, Asian Paint, Heromotoco, Sun Pharma, Cipla, Bajaj Auto and BHEL.

Turnover in the cash segment dropped to Rs 10,801.60 crore from Rs 13,966.85 crore yesterday. A total of 5,914.72 lakh shares changed hands in 55,65,402 trades, while the market capitalisation stood at Rs 65,90,785 crore.