Nifty gains 20 points on select buying; Cipla shines

In a lacklustre session, the overall sentiment remained fragile and fairly thin reflecting investor uncertainty over the close US Presidential election and its impact on markets.

After opening almost flat, the market moved in a tight range due to lack of direction, though firm buying was seen in select frontline and second line counters. Profit taking in auto and FMCG scrips kept the index under pressure.

Overcoming the volatility, the market picked up some steam towards the close, helping the 50-issue benchmark to conclude with moderate gains. Financial, pharma and capital goods stocks posted gains.

The Nifty fluctuated between a high of 5,730.80 and a low of 5,693.65 before finishing at 5,724.40, a rise of 20.20 points, or 0.35 per cent, over the previous close.

Drug firm Cipla was the top Nifty performer after reporting stronger-than-expected Q2 earnings. Its stock rose 4.38 per cent to end at Rs 396.85, its multi-year high.

Other gainers were Asian Paint, Ambuja Cement, ACC, Ranbaxy, Power Grid, GAIL, HDFC, DLF and JP Associates. Losers included IDFC, Maruti, Hindalco, Reliance Infra, Tata Motors, Grasim, Bajaj Auto, Hero MotoCorp, TCS and Dr Reddy's Lab.

The turnover in cash segment rose to Rs 9,455.39 crore from Rs 7,761.39 crore yesterday. Overall, 5,524.77 lakh shares changed hands in 50,51,398 trades. Total market capitalisation was Rs 64,49,512 crore.