Nifty ends above 8,600-level; energy stocks rally

Market rebounded from its two session losses led by firm buying in Energy and financial stocks taking the benchmark Nifty to garner 104.05 points to comfortably end above the key 8,600 level.
Earlier, the market opened negative on sluggish Asian cues, but soon picked up momentum on bouts of value buying in recently hammered shares, the indices got further spurred up during afternoon on reports of Rajya Sabha panel endorsing GST (Goods & Services Tax) bill, even as recommending five year compensations for the states affected.
All the sectors ended in green led mainly by Energy (2.86 pct) Financials (1.70 pct), PSU Banks (1.49 pct), Banks (1.46 pct), Auto (1.17 pct), Pharma (1.00 pct), Realty (0.99 pct), Metal (0.92 pct), FMCG (0.83 pct) and Infra (0.43 pct) counters.

While, shares of midcap rallied (1.69 pct) and smallcap gained (0.69 pct).
The broader 50-share NSE Nifty opened lower at 8,512.25 and slid to 8,498.65, soon it rallied to an high of 8,643.90 before closing at 8,633.50, a smart gain of 104.05 points, or 1.22 per cent.
Elsewhere, Asian stocks ended lower, while European stocks were also trading lower amid subdued sentiment across global financial markets.

Stockwise, Zeel surged 5.18 pct, Reliance 4.23 per cent, SunPharma 3.64 per cent, M&M 3.36 per cent, Asian Paints 3.34 per cent, HUL 3.28 per cent and HDFC 2.60 per cent.
Notable losers were Lupin 3.25 per cent, IDEA 1.73 per cent, BhartiAirtl 1.31 per cent and TCS 1.30 per cent.

Turnover in the cash segment dropped to Rs 15,962.70 crore from Rs 19,366.40 crore yesterday.
A total of 7,718.24 lakh shares changed hands in 71,21,517 trades and the total market capitalisation of Nifty stood at Rs 1,01,99,095 crore.