Nifty bounces back from day's low

Aggressive low level buying, mainly in pharma, oil and energy, technology and infra stocks helped the key index to recover bulk of the losses registered earlier in the session and closed above the psychologically important 5200 level.

The domestic bourses opened sluggish today amid weak global cues in the absence of any stimulus measures either by the Fed or the ECB.

The shares kept sliding as the session progressed as panicky investors and speculators opted to liquidate their positions. But a sharp rebound in European markets suddenly reversed the trend by afternoon.

The 50-share Nifty tumbled to a low of 5,164.65 before closing at 5,215.70, a modest fall of 12.05 points or 0.23 per cent, over the last close.

Sterlite Industries, Jindal Steel, Tata Steel, IDFC, JP Associates, Hindalco, Sail, ICICI Bank, Sesa Goa and Axis Bank were the top percentage-wise losers from the Nifty pack.

Asian Paint, Wipro, NTPC, ONGC, Gail, PNB, Ranbaxy, Dr Reddys', BHEL and HDFC Bank ended with gains.

The turnover in cash segment jumped to Rs 8,903.67 crore against Rs 7,345.13 crore yesterday. In all, 5,371.30 lakh shares changed hands in 47,22,205 trades. Market capitalisation stood at Rs 59,57,749 crore.