Nifty pares initial losses to regain 6,500-mark, up 11 pts

Fag-end bouts of value buying in key counters of Pharma, FMCG, Auto and infra lifted the benchmark to regain 6,500 level, gaining a modest 11.10 points at the National Stock Exchange (NSE) here today.
The market was mostly trading weak on lower Asian cues as well as absence of definite trigger, but witnessed a late buying reflecting fall in Wholesale Price Index (WPI) inflation to a nine month low of 4.68 per cent in February, as marketmen hoped that Apex bank would keep interest rate unchanged.
Realty major DLF attracted good buying interest rallying at 3.92 per cent followed JP Associate at 3.54 per cent.

While Ranbaxy fell 3.25 per cent, HCL Tech fell by 2.90 per cent.
Meanwhile, foreign institutional investors (FIIs) bought shares worth Rs 616.62 crore yesterday, as per the provisional data from stock exchanges.
The market opened lower on weak Asian cues and continued to trade in negative terrain during morning trade as the benchmark hit one week low at 6,432.70. The fag-end trade saw the indices rebound on value buying to end in green.

The 50-share Nifty hovered between a high of 6,518.45 points and a low of 6,432.70 points before closing at 6,504.20 points, up by 11.10 points, or 0.17 per cent, over last close.

Other major losers were BHEL, NMDC, L&T, Jindal Steel, Bank of Baroda, Tata Steel, Dr Reddy, and CIPLA, while, Wipro, Axis Bank, Bharati Airtel, HDFC Bank, HDFC, Hindunilvr, Kotak Bank and SSLT witnessed profit-booking.
Turnover in the cash segment dropped to Rs 12,058.07 crore from Rs 14,141.81 crore yesterday. A total of 5,968.05 lakh shares changed hands in 55,40,726 trades, while market capitalisation stood at Rs 69,35,794 crore.