Nifty logs modest gains, tops 8,900-mark

The Nifty 50 index continued to move up for the fourth straight day and closed with modest gain of 28.65 points or 0.32 per cent to close above 8,900-mark after five-month high at 8,907.85.
Shares of cement and banking stocks firmed up.
The 50-share NSE Nifty ended 28.65 points, or 0.32 per cent, higher at 8,907.85, its highest closing since September 08, 2016 when it had settled at 8,952.50.
Overseas, European stocks were mixed as investors focused on company earnings and fresh economic data. Meanwhile, Greece and its European creditors agreed yesterday, to resume talks on what economic reforms the country must make next in order to get the money it needs to avoid bankruptcy and a potential exit from the euro.

Asian stocks were mixed as investors looked ahead to minutes from the US Federal Reserve's latest meeting and Wall Street prepared to reopen after a three-day weekend.
It saw an intra-day movement of about 59.85 points.

On the sectoral front, Fin Services rose by (1.03 per cent) followed by Pvt Bank (1.01 per cent), Bank (0.89 per cent), PSU Bank (0.54 per cent), Realty (0.44 per cent) and Metal (0.33 per cent), while Media dipped by (0.01 per cent).
Major index gainers were Axis Bank 4.84 per cent, Auro Pharma 2.49 per cent, Asian Paints 1.61 per cent, Tata Chemical 1.59 per cent and Yes Bank 1.43 per cent.

However, Infra Tel fell 4.26 per cent, followed by Bharti Artl 3.33 per cent, TCS 1.47 per cent, Tata Power 1.29 per cent and ITC 1.09 per cent.
A total of 923 scrips advanced, 700 declined, while 84 remained unchanged. Total securities that hit their price bands were 97.
Turnover in the cash segment rose to Rs 22,346.46 crore, from Rs 19,603.70 crore.
A total of 11,294.54 lakh shares changed hands in 7,868,945 trades. The market capitalisation of NSE stood at Rs 11,569,764 crore.