Nifty rallies up 51 points to end above 7700 on global cues

The 50-share Nifty rallied for the second consecutive day gaining 51 points amid bullish global cues ahead of Federal Reserve's two-day meet tonight.
Across the board buying led by Auto, Energy, FMCG, MNC, Realty and Pharma stock strengthened the Nifty during the fag end of trading after seeing consolidation from opening, while IT, Metal and PSU Banks registered mild losses.
In overseas stock markets, European shares surged led by gains in oil and gas stocks as global crude oil futures clawed back from multi-year lows. While, Asian stocks ended on a mixed note amid caution ahead of a highly anticipated US Federal Reserve meeting.

The 50-share Nifty resumed slightly higher at 7,659.15 and moved in a range of 7,705 and 7,625.10 before finishing at 7,700.90, up by 50.85 points, or 0.66 per cent.
Auto was the biggest gainer among the sectoral indices, up by 1.49 per cent, followed by Energy (1.32 per cent), FMCG (1.23 per cent), MNC by (1.31 per cent), Realty by (0.87 per cent) and Pharma by (0.58 per cent).
Major index losers were IT by (0.37 per cent), Metal by (0.25 per cent) and PSU (0.03 per cent).

The broader indices benchmarks with midcap and small- cap rose by 0.57 per cent and 0.76 per cent, respectively.

The prominent movers included, Bosch Ltd rose by (3.45 per cent), followed by Lupin by (2.58 per cent), Hul by (2.34 pct), Reliance by (2.18 pct) and Tata Motors by (2.13 pct).
While, Tech M fell by 4.36 per cent, PNB by 2.53 pct, Idea by 2.22 pct, Wipro by 1.44 pct & ICICI Bank by 1.04 pct.
Of the total 1,581 securities traded, 968 advanced, 545 declined and 76 remained unchanged.
Turnover in cash segment fell to Rs 13,962.95 crores from Rs 14,020.02 crores yesterday. A total of 7,054.40 lakh shares changed hands in 66,26,541 trades.
The market capitalisation of NSE stood at Rs 94,54,180 crores.