Nifty ends positive in volatile trade, up 72 points

After overnight massacre, equities staged a smart recovery in a volatile trade as the benchmark Nifty gained 71.70 points to finish at 7,880.70 at the National Stock Exchange (NSE).
Traders resorted to value-buying on strong fundamental shares amid hectic shortcovering as sentiment raised on rebound in global markets as China cut interest rates to support its wobbling economy, government stated to convene second part of the Monsoon Session and make attempt to pass key GST bill, as well as appreciating rupee momentum.
The market momentum were generally volatile after yesterday's slump also due to expiry of August series derivative segment on Thursday.

The key index opened positive, but soon fell to move into negative terrain to mark the low of 7,667.25 during early session on news of further slump in Chinese markets, but started recovering on slews of affrimative news to to end positive.
Sectorwise, Realty gained 6.86 per cent followed by Metal 3.60 per cent, Bank 2.27 per cent, Commodities 2.16 per cent, PSU Bank 2.11 per cent, Media 2.03 per cent, Auto 1.89 per cent, Energy 1.77 per cent, Financials 1.30 per cent, FMCG 0.64 per cent and Infra 0.44 per cent.
While the the broader midcap and smallcap surged by 2.60 per cent and 1.79 per cent respectively.

The broader 50-share Nifty opened gap-up 7,895.40 and traded between a high of 7,925.40 and a low of 7,667.25 before closing at 7,880.70 showing a gain of 71.70 points, or 0.92 per cent over its last close.

Stockwise, major gainers were Yes Bank (8.10 percent), Tata Motors (6.68 per cent), VEDL (6.54 per cent), BPCL (5.39 per cent), Coal India (5.05 per cent), IOC (4.43 per cent), Axis Bank (4.34 per cent) and Tata Steel (3.57 per cent).
Notable loser were, Tata Power (6.02 per cent), Ambuja Cement (2.14 per cent), PowerGrid (1.91 per cent), HDFC (1.90 per cent) and HCL Tech (1.49 per cent).

Turnover in the cash segment declined to Rs 27,645.73 crore compared to Rs 27,890.41 crore yesterday.
A total of 14,584.88 lakh shares changed hands in 12,189,508 trades and the total market capitalisation of NSE stood at Rs 9,347,075 crore.