Market perks up on firm buying in heavyweights, Nifty up 39pts

After a soft start, market picked up momentum on firm buying in realty, technology, telecom, metal and auto, alongwith good buying in large-cap space. It further added strength to touch day's highest level in mid-morning trade following sustained rally in banking counters.

The key-index continued to surge higher in afternoon trade despite not so supportive global cues, though it endured a brief profit-taking in fmcg counters, but bounced back quickly to conclude the session on a strong note.

The investors sentiment was mainly supported by falling rupee amidst hope of further QE3 stimulus in US, which accelerated buying in technology counters, traders said.

S&P Nifty oscillated between a high of 5,262.15 and low of 5,201.45 before ending at 5,248.15, a rise of 39.15 points, or 0.75 per cent over its last close.

TCS, Jindal Steel, PowerGrid, HeroMotoco, Infosys, DLF, ACC, Reliance Infra, JP Associates and ONGC were the top percentage-wise gainer from the Nifty.

BHEL, Maruti, Axis Bank, Dr Reddys, Sail, Siemens, ITC, M&M, HDFC and Asian paint topped the losers list.

Turnover in cash segment was lower at Rs 8,860.99 crore. In all, 5,393.94 lakh shares changed hands in 47,85,213 trades. Market capitalization stood at Rs 60,59,258 crore. PTI EDM PAK EDM KRK