Market up on rupee recovery, Nifty rallies 86 pts

The Indian currency recovered from its fresh intra-day lows today following intervention by the apex bank to 55.82 levels, boosting the overall sentiment.

The 50-share index oscillated between a high of 4,931.90 and low of 4,830.15 before ending at 4,921.40, a net gain of 85.75 points, or 1.77 per cent, over the last close.

Trading commenced on a strong note with hectic buying activity mainly in shares of oil marketing companies as also banking, metal and capital goods stocks. There was some volatility for a brief period before shares bounced back to trade in green.

ONGC, Bharti Artl, Bank of Baroda, Ranbaxy, HDFC, IDFC, Reliance Infra, Axis Bank, Jindal Steel and ICICI Bank were the top percentage-wise gainers from the Nifty bunch.

JP Associates, Cairn, Maruti, Hindunilvr, GAIL, BHEL, HeroMotcop, TCS and Cipla ended with losses.

Turnover in cash segment rose to Rs 9,052.11 crore from Rs 8,439.38 crore yesterday. In all, 5,243.81 lakh shares changed hands in 51,20,001 trades. Market capitalisation stood at Rs 56,62,185 crore.