Nifty rallies by 53 pts on global buoyancy

The buying was noticed in sectors like banks, fmcg, auto, technology, capital goods, pharma and infra.

Financial markets across the Asian region responded positively and climbed to their nearly two weeks high after a string of encouraging macro-economic data from the world's largest economy US and China eased concerns over the global economic slowdown.

The domestic bourses witnessed a sharp gap-up opening with across the sector frantic buying and maintained its upsurge throughout the session.

The benchmark Nifty, however, failed to close above the psychologically important 5,700 level due to profit-taking towards the fag-end of the session in telecom stocks like Bharti Airtel and select heavyweights.

Banking stocks, particularly PSUs which were under-performers on concerns over provisioning against restructured assets, attracted good buying interest, while Bajaj Auto touched fresh 52-week high on the back of robust sales volume.

The 50-share Nifty jumped to day's high of 5,711.30 before finishing at 5,697.70, registering a smart rise of 52.65 points, or 0.93 per cent, over the previous close.

GAIL, Bajaj Auto, L&T, ICICI Bank, Lupin, Sesa Goa, M&M, Hero MotoCorp, Ranbaxy and NTPC were the top percentage-wise Nifty gainers. The laggards included Bharti Airtel, Jindal Steel, Hindustan Unilever, BPCL, JP Associates, Sun Pharmaceutical Industries, Kotak Bank and Reliance Industries.

The turnover in cash segment rose to Rs 10,289.38 crore from Rs 9,575.53 crore yesterday. Overall, 6,255.73 lakh shares changed hands in 51,39,461 trades. Total market capitalisation was Rs 64,28,942 crore.