Nifty conquers 8,700 milestone amid 'feel-good factor'

The NSE Nifty crossed the 8,700 landmark for the first time on sentimental booster following improving overall macro environment and robust earnings outcome.
Stretching the rally for the fifth-straight day, the broader 50-share index rose by 33.90 points, or 0.39 per cent, to finish at a new closing high of 8,729.50 after hitting a lifetime peak of 8,741.85 in intra-day trade.
Despite a record-breaking session, the key indices briefly slipped into negative zone in mid-afternoon trade reacting to modestly weak ITC's Q3 earnings outcome which missed on all counts due to slow growth in cigarette business.
However, the feel-good factor amongst all classes of investors on more reforms measures and upcoming budget goodies helped market to rebound later.

Elsewhere in Asia, barring Japan's benchmark Nikkei most equities ended higher amid expectations that the European Central Bank will launch a large-scale economic stimulus measures.
Sector wise performance, Infra indices rallied rallied the most, up nearly 2 per cent. This followed by Financials, Technology, Auto, Energy and Healthcare, while, Metal, FMCG and Realty witnessed fresh bout of selling pressure along with Smallcap.

Among the index gainers, housing finance company HDFC topped the buying list for the second day. Infosys, SBI, L&T, Bharti Airtel, Sun Pharma, Bank of Baroda, Reliance, TCS, Bajaj Auto, Heromotoco, Coal India, Grasim, Asian Paints, PNB, HCL-Tech, ICICI Bank, Maruti, Dr Reddys, Tata Power and Lupin also gained the most.

Index heavyweight ITC was the biggest Nifty loser, slumping 5 per cent on dismal earnings. Other major laggards included Tata Motors, Cipla, ZEE, ONGC, Axis Bank, Ultracemco, Sesa Sterlite, Tata Steel, Hindalco and NMDC.
Turnover in the cash segment shot-up to Rs 20,412.84 crore compared to Rs 18,132.55 crore yesterday. A total of 9,077.51 lakh shares changed hands in 86,49,759 trades and the market capitalisation at NSE stood at Rs 100,24,760 crore.