Nifty closes above 9,600, up 10 points

The benchmark Nifty closed a tad above psychological 9,600-mark for the first time ever amid volatility ended up 10 points at 9,604.90 a new record closing following buying in FMCG, Energy and Auto stocks despite mixed global cues, but the correction in Realty, Pharma, Technology, Infra and select banks sectors limited gains.
Market sentiment was boosted by hopes of timely arrival of southwest monsoon rains after India Meteorological Department (IMD) in a press release today said that conditions are favourable for further advance of southwest monsoon and its setting over Kerala within next two days.
In overseas markets, European stocks were mixed following lacklustre trade in Asian equities and decline in the oil price.

The NSE 50-share Nifty index opened higher at 9,560.05 and hovered between 9,637.75 and 9,547.70 before finishing at 9,604.90, a marginal rise of 9.80 points, or 0.10 per cent.
It saw an intra-day movement of about 90.05 points.
Sector-wise, FMCG rose 1.73 per cent, Energy 0.52 per cent, Auto 0.39 percent. However, Realty fell by 4.31 percent, Pharma 3.34 percent, PSU Bank 2.25 percent, IT 1.56 percent, Infra 0.85 percent and Pvt Bank 0.77 per cent.

In broader market, Midcaps slips, the mid-cap and small- cap indices slipped by 2.05 per cent and 2.06 per cent, respectively.
Major index gainers were PowerGrid (3.41 per cent), Cipla (3.36 percent), Hdfc (3.29 percent), Hul (3.01 percent), Infra (2.54 percent), ITC (2.02 pct) and Hindalco (1.71 pct).

Tech M dipped by 11.58 percent, while other notable lossers were SunPharma (11.46 per cent), Adaniports (5.80 per cent), AuroPharma (3.77 percent), Yes Bank (3.70 percent), Bank of Baroda (3.46 percent) and IOC (2.22 per cent).
A total of 1,224 scrips declined, 462 declined, while 71 remained unchanged.
Total securities that hit their price bands were 167.
Turnover in the cash segment eased to Rs 26,025.27 crore, from Rs 26,556.86 crore yesterday.
A total of 12,985.58 lakh shares changed hands in 93,42,097 trades.
The market capitalisation of listed firms on the NSE stood at Rs 1,23,30,692.15 crore.