Nifty rallies 87 pts, reclaims 9,850-mark

Extending gains for the second day, benchmark Nifty jumped 86.95 points to end at 9,852.50 today on good buying in realty, PSU bank, metal and financial service sectors amid higher global cues.
Banking stocks rallied after the Cabinet approved an alternative mechanism to oversee consolidation of public sector banks.
Overseas, Asian stocks ended mixed, while European markets were looking for direction ahead of the start of a central bank symposium in Jackson Hole, US.
The 50-share Nifty rose 86.95 points, or 0.89 per cent, to close at 9,852.50 after scaling a high of 9,857.90. It hit a low of 9,786.75.

It witnessed an intra-day movement of about 71.15 points.
On the sectoral front, Realty climbed 3.44 per cent, followed by PSU Bank 2.09 per cent, Metal 1.72 per cent, Financial Service 1.48 per cent, Bank 1.43 per cent and Private Bank 1.34 per cent.

However, Nifty FMCG eased 0.03 per cent.
Notable index gainers were Indiabulls Housing Finance 3.86 per cent, Adani Ports 2.49 per cent, Tata Steel 2.42 per cent, Dr Reddy's 2.36 per cent and Bharti Airtel 2.32 per cent.
Notable laggards were Tech Mahindra 2.08 per cent, Tata Power 1.62 per cent, Bharti Infratel 1.30 per cent, Eicher Motors 1.06 per cent and HUL 0.95 per cent.

A total of 1,125 scrips advanced, 556 declined while 76 remained unchanged. Total securities that hit their price bands were 125.
Turnover in cash segment rose to Rs 23,817.77 crore from Rs 23,680.89 crore as on Tuesday.
A total of 11,009.55 lakh shares changed hands in 82,44,358 trades. The market capitalisation of NSE stood at Rs 1,28,51,805 crore.