Nifty grabs 7,700-mark, settles at 7,716.50

The Nifty managed to end above 7,700-level at 7,716.50 on fag-end buying mainly in metal and auto sectors on the back of higher European cues and sustained foreign capital inflows despite selling in energy and banking sectors.
Bank stocks came under selling pressure today after Standard & Poor's said their asset quality and capitalisation are likely to remain under pressure in the next 12 months.
European markets were trading higher in their afternoon trade as key indices like France, Germany and UK moved up by 0.18 pct to 0.84 pct.
The 50-share barometer resumed higher at 7,717.45 and hovered in a range of 7,726.85 and 7,670.60 before ending at 7,716.50, showing a marginal gain of 1.60 points or 0.02 per cent.

Among the major indices, metal rose by 2.08 pct and auto 0.55 pct while PSU Bank fell by 0.73 pct and banking index by 0.30 per cent.
Foreign investors remained net buyers as they bought shares worth Rs 1,095.44 crs yesterday as per the provisional data issued by stock exchanges.

759 shares firmed up, 783 declined while 86 ruled steady.
Major gainers were Hindalco 4.94 pct followed by IDEA 2.84 pct, TataSteel 2.39pct, Bharti Airtel 2.08 pct and YES Bank 2.0 pct.
However, Reliance Ind fell by 1.78 pct.
Turnover in cash segment fell to 15,928.46 cr from Rs 17,496.41 crs yesterday. A total of 7,916.11 lakh shares changed hands in 70,45,674 trades.

The market capitalisation of NSE stood at Rs 92,52,171 crore.