Nifty extends gains, hits 8,800-mark

The NSE Nifty 50 index ended on a positive note with modest gains for the second session in a row, hitting 8,800-mark to close at 8,821.70 despite lower global stocks.
Gains were led by pharma, private bank, realty and FMCG stocks. HDFC Bank pared initial surge triggered after RBI yesterday lifted restriction on buying bank's shares by foreign investors after their holding fell below the prescribed limit.
The 50-share NSE Nifty gained 43.70 points or 0.50 per cent to 8,821.70, it shuttled between 8,896.45 and 8,804.25.
Overseas, European and Asian stocks declined following a pullback overnight in two major US stock indexes from record levels. Wall Street stocks finished mixed yesterday as a five-day streak of record highs finally began to show signs of fatigue.

The Dow Jones Industrial Average closed at a record for a sixth session in a row while the broader market faltered on weak energy and consumer discretionary shares.
It saw an intra-day movement of about 92.20 points.

Among the key sectoral indices, Pharma rose by 2.08 per cent, followed by Bank 1.52 per cent, Pvt Bank 1.48 per cent, Finance Services 1.28 per cent, Realty 0.40 per cent and FMCG 0.30 per cent.
However, IT rose by 0.95 per cent followed by Metal 0.72 per cent, PSU Bank 0.26 per cent, Auto 0.03 per cent and Media 0.02 per cent.

Top index gainers included Sun Pharma, HDFC Bank, Tata Motors, ICICI Bank and Cipla.
Notable losers were Infra Tel, Hindalco, Idea, TCS and Hero Motoco.
A total of 873 scrips advanced, 761 declined, while 80 remained unchanged. Total securities that hit their price bands were 102.
Turnover in cash segment rose to Rs 35,434.95 crore from Rs 21,744.28 crore yesterday.
A total of 11,859.57 lakh shares changed hands in 83,72,889 trades. The market capitalisation of NSE stood at Rs 1,14,31,897 crore.