Nifty ends above 8,850-mark on global cues

The NSE Nifty ended above the crucial psychological barrier of 8,850-mark, up 90.30 points at 8,867.45 on the back of buying led by banking, energy, auto, infra, metal, media and pharma stocks amid global market rally after the Federal Reserve left US rates unchanged and plotted a lower trajectory for future hikes.
IT stocks were among the major losers putting pressure on the Nifty following weak dollar.
In overseas market, European and Asian stocks edged higher mirroring gains in the US market after the Federal Reserve left interest rates unchanged and projected a less aggressive path for hikes next year and in 2018.

US stocks registered strong gains yesterday, after the Federal Reserve kept interest rates unchanged but hinted at the possibility of a rate hike later this year.
The 50-share Nifty opened higher at 8,873.35 and moved in a range of 8,893.35 and 8,837.80 before ending at 8,867.45, showing a rise of 90.30 points or 1.03 per cent from its last closing of 8,777.15. Nifty witnessed an intra-day movement of about 55.55 points.
On sectoral front, PSU Bank rose by (2.84 per cent) followed by Energy (1.56 pct), Auto (1.53 pct), Infra (1.48 pct), Bank (1.42 pct), Fin.Service (1.40 pct), Realty (1.36 pct), Metal (1.14 pct), Pvt Bank (1.17 pct), Pharma (0.97 pct) and Media (0.66 pct).

However, IT was down (0.57 per cent).

Notable Index gainers were AuroPharma (6.10 per cent) followed by Hindalco (3.38 pct), Bank Of Baroda (3.10 pct), IndusInd Bank (2.92 pct) SBIN (2.69 pct), EicherMotor (2.53 pct), ACC (2.44 pct) and AdaniPort (2.30 pct).
While, TCS fell by (1.47 pct), TechM (1.39 pct),Idea (1.30 pct), Axis Bank (1.19 pct), Lupin (1.11 pct), Coal India (1.05 pct) and Tata Power (0.39 pct).
A total of 1,079 scrips advanced, 536 declined, while 87 remained unchanged. Total securities that hit their price bands were 96.
Turnover in cash segment rose to Rs 21,823.37 crore from Rs 18,705.44 crore as on Wednesday.

A total of 10,115.57 lakh shares changed hands in 83,12,207 trades. The market capitalisation of NSE stood at Rs 1,10,29,658.47 crore.