Nifty marks a record high breaching 8,500-point milestone

The market maintained a record breaking spree to breach new milestone of 8,500 points amid firm buying mainly in key banking, infotech, metal and auto counters to gain 52.80 points on the National Stock Exchange (NSE) here today.
Already underpinned by all-round domestic positivity, the bourses got a boost due to a surprise interest rate cut by the Chinese central bank for the first time in two years to prop-up its slowing economy, in addition to European Central Bank President Mario Draghi's statement indicating "aggressive stimulus measures" to prevent the Euro zone from sliding back to recession.
However, the range-bound market which traded in positive terrain, witnessed bouts of profit-booking in energy and pharma counters.

It also registered a new life-time high 8,534.65 points during the fag end of the trade, before settling to close at 8,530.15 points, showing a gain 52.80 points, or 0.62 per cent over its previous close.
Good buying was also seen in shares of midcap and smallcap companies.
Meanwhile, provisional data released by stock exchanges showed that foreign portfolio investors (FPIs) bought shares worth a net Rs 122.50 crore last Friday.

The top five gainers from the Nifty pack are DLF at 5.06 per cent, Jindal Steel at 4.23 per cent, Tata Power at 4.20 per cent, Hindalco at 3.34 per cent and Infy at 3.11 per cent.

The top five losers were PowerGrid at 2.80 per cent, Cipla at 1.42 per cent, Reliance at 1.24 per cent, ACC at 0.94 per cent and Tata Motors at 0.87 per cent.
Turnover in the cash segment dropped to Rs 15,665.44 crore from Rs 17,243.50 crore last Friday. A total of 7,508.16 lakh shares changed hands in 69,64,765 trades, while market capitalisation stood at Rs 96,97,899 crore.