Nifty edges up 9 points in volatile trade

Market benchmark Nifty edged up 9.35 points to close at 8,778.40 in volatile trade on bouts of buying in key IT, realty and FMCG counters ahead of IIP data due tomorrow.
Sentiments were on the edge after RBI yesterday kept its policy rate unchanged while changing the policy stance to 'neutral' from 'accommodative'.
Markets opened positive, but later fell nearly 45 points before recovering in late session buying.
Overseas, Asian markets rose as investors grew more confident about China, world's second-largest economy.
European stocks were trading higher in their afternoon trade.
The NSE 50-share Nifty index opened higher at 8,795.55 and hovered between 8,821.40 and 8,724.10 before closing at 8,778.40, a marginal gain of 9.35 points, or 0.11 per cent.

It saw an intra-day movement of about 97.30 points.

Sector-wise, Media rose 1.84 per cent, followed by IT (1.61 per cent), Realty (0.95 per cent), FMCG (0.48 per cent) and Auto (0.34 per cent).
Also, midcap shares gained 0.44 per cent, while smallcap index rose 0.07 per cent.
However, the banking space continued to be bogged down by selling pressure, led by PSU Bank (1.02 per cent), Bank (0.47 per cent), Private Banks (0.42 per cent).
Metal index lost 0.71 per cent, Pharma 0.39 per cent and Commodities 0.22 per cent.
Major index gainers included Bharti Infratel (2.89 per cent), Tech Mahindra (2.19 per cent), TCS (2.04 per cent), Zee (2.02 per cent), Aurobindo Pharma (1.45 per cent) and Infosys (1.01 per cent).

However, Hindalco fell (2.80 per cent), Cipla (2.58 per cent), Tata Steel (2.29 per cent), NTPC (2.15 per cent) and Bank of Baroda (1.58 per cent).
A total of 801 scrips advanced, 849 declined while 78 remained unchanged. The total number of securities that hit their price bands was 117.
Turnover in the cash segment rose to Rs 23,431.97 crore, from Rs 22,189.16 crore yesterday.
A total of 13,505.86 lakh shares changed hands in 91,29,529 trades.