Nifty ends 94 points up on global cues

Market benchmark Nifty rebounded smartly by 94 points to 8,525.75 following value buying mainly in PSU bank, metal, Bank Nifty, private bank, infra, financial service, energy, realty and pharma sectors.
Market sentiment also got a boost after global investors turned hopeful about generous tax cuts as well as higher infrastructure and defence spending in the US following Donald Trump's election victory.
The rally in banks was fuelled by hopes of likely improvement in asset quality going ahead, while selling in technology and auto stocks trimmed some gains at the fag end trade.
In overseas markets, European shares advanced today led higher by miners and banks. Asian stocks edged higher to join a global rebound on speculation that Donald Trump will pursue business-friendly policies.

The 50-share Nifty opened higher at 8,555.60 and moved in a range of 8,598.45 and 8,510.70 before ending at 8,525.75, a rise of 93.75 points, or 1.11 per cent, from its last close.
It saw an intra-day movement of about 87.75 points.

On the sectoral front, PSU Bank climbed by 8.72 per cent, followed by metal (6.28 per cent), Bank Nifty (3.49 per cent), private bank (2.74 per cent), infra (2.60 per cent), financial service (1.94 per cent), energy (1.53 per cent), realty (1.23 per cent), pharma (1.10 per cent) and media (1.11 per cent).
Auto and IT fell by 0.63 per cent and 0.29 per cent, respectively.

Index gainers were Tata Steel (9.43 per cent), Bank of Baroda (9.13 per cent), Hindalco (8.42 per cent), SBI (8.19 per cent), Cipla (7.11 per cent), Bharti Infratel (6.61 per cent), Yes Bank (5.79 per cent) and PowerGrid (5.80 per cent).
The laggards list were Asian Paints (3.77 per cent), Hero MotoCorp (2.80 per cent), Lupin (2.34 per cent) and HDFC (1.94 per cent).
A total of 1,307 scrips advanced, 343 declined while 38 remained unchanged. Total securities that hit their price bands were 109.
Turnover in the cash segment fell to Rs 27,197.28 crore, from Rs 34,064.90 crore as on Wednesday.

A total of 12,383.54 lakh shares changed hands in 96,71,657 trades.
The market capitalisation of NSE stood at Rs 1,08,96,197.46 crore.