Nifty rebounds by 39 points on fresh buying

The 50-share Nifty bounced back by 39.60 points towards fag-end, its highest closing since last Thursday, after witnessing intraday volatility and hitting its lowest level in almost 14 weeks.
Fresh buying in index heavyweights were seen mainly in metal, pharma, media, IT and banks stocks amid positive European cues ahead of Draghi speech and Fed policy meet helped the market gain.
In overseas stock markets,european stock markets edged higher in cautious trade as investors look ahead to this week's pivotal US monetary policy meet. Asian equities edged lower amid sharpening worries about the stability of the junk-bond market and tumbling oil prices.

The 50-share Nifty resumed lower at 7,558.20 and moved in a range of 7,663.95 and 7,551.05 before ending at 7,650.05, up by 39.60 points, or 0.52 per cent.
Metal was the biggest gainer among the sectoral indices, up by 2.37 per cent, followed by Media (1.51 per cent), Pharma (0.92 per cent) and IT by (0.51 per cent).
Major index losers were Realty by (0.19 per cent), PSU Bank (0.10 per cent) and Energy (0.07 per cent).

The broader indices benchmarks with midcap and small- cap rose by 0.47 per cent and 0.87 per cent, respectively.
The prominent movers included, AdaniPort rose by (5.56 per cent), followed by Hindalco by (3.34 per cent) Coal India by (2.73 per cent), Idea by (2.35 per cent) and Ambuja Cem by (2.25 per cent).

While, Axis bank fell by 2.11 per cent, Tata Motors by 1.68 per cent, BhartiAirtel by 1.10 per cent, Ongc by 0.91 per cent and Larsen by 0.88 per cent.
Of the total 1,595 securities, 863 advanced, 657 declined and 75 remained unchanged.
Turnover in cash segment fell to Rs 14,020.02 crores from Rs 15,571.33 crores last Friday. A total of 7,637.96 lakh shares changed hands in 67,40,868 trades.
The market capitalisation of NSE stood at Rs 93,87,025 crores.