Market regains momentum; NSE Nifty rises 29 points

The improved sentiment boosted buying interest in counters like FMCG, financials, pharma and technology. Trading began on a buoyant note with aggressive buying seen in scrips across the sectors as well as improved global sentiment.

Global stocks also showed some recovery after previous day's plunge on expectations of monetary easing measures from China to boost its economy. The key index kept moving higher supported by consistent buying amid short-covering. Hectic unwinding was seen in oil & gas, auto and telecom stocks.

But the market came under intense selling pressure in mid-afternoon and surrendered early gains before recovering smartly to conclude the choppy session.

The 50-share Nifty swung between a high of 5,728.65 and a low of 5,677.90 before ending at 5,704.60, registering a gain of 28.60 points, or 0.50 per cent, over its last close.

UltraCem, L&T, Ranbaxy, Sun Pharma, Lupin, Infosys, HUL, Cipla, Kotak Bank and Sesa Goa were the top percentage- wise Nifty gainers. Noteworthy losers included Gail, BHEL, Bharti Airtel, NTPC, Hindalco, Siemens, Tata Motors, ONGC, JP Associates and Reliance Industries.

The turnover in cash segment declined to Rs 11,017.10 crore from Rs 11,860.16 crore yesterday. Overall, 7,071.32 lakh shares changed hands in 57,97,210 trades. Total market capitalisation stood at Rs 64,69,005 crore.