Nifty gains for second day, ends up 31 points

Enduring volatility the benchmark Nifty extended its rise for the second consecutive day amid continued buying in beaten down fundamentally strong stocks to garner 30.95 points to finish at 7,837.55.
Sentiments mainly bolstered by the rebound in global markets following overnight rise in US stocks as investors shrugged of paris attacks amid surge in crudeoil prices.
The index momentum bridled by by caution over mute corporate earning results for July-September quarter and FII selling as profit booking slid the index into negative terrain couple of times during the session. However, the momentum were broadly supported by data on countrys narrowing trade deficits and bouts of shortcovering to end in green.

Elsewhere, Asian markets ended higher and European stocks also trading up on geopolitical impact of the attacks in Paris faded.
Buying was led by FMCG, Metal, Auto, Pharma and IT counters along with broader midcap and smallcap shares.
Selling was seen in PSU Banks and Infra segments.

The 50-share Nifty opened higher at 7,848.75 and fluctuated between 7,860.45 and 7,793.00 before ending at 7,837.55, showing a gain of 30.95 points, or 0.40 per cent.
Stockwise major gainers were GAIL 3.89 per cent, Cairn 3.19 per cent, ITC 3.19 per cent, VEDL 2.79 per cent, Ambuja Cement 2.50 per cent, HCLTech 2.16 per cent, Sunpharma 1.99 per cent and HDFC 1.90 per cent.

Top lossers include BPCL 2.49 per cent, Dr Reddy 1.93 per cent, Grasim 1.82 per cent, Bank of Baroda 1.81 per cent and Infy 1.73 per cent.
Turnover in cash segment declined to Rs 15,312.86 crore from Rs 15,285.64 crore yesterday. A total of 8,736.08 lakh shares changed hands in 70,78,014 trades. The market capitalisation of NSE stood at Rs 95,12,593 crore.