Nifty reclaims 6,300-mark; IT stocks shine

IT counters dazzled as strong Q3 earning result from service providers gathered momentum, along with bargain-hunting, which helped the CNX nifty to reclaim 6,300-level to gain 42 pts at the National Stock Exchange (NSE) today.
Country's third largest software services exporter Wipro surged 3.68 pct, as last Friday posted ample 27 per cent rise in profits in its third quarter ended December 31.
The initial choppiness was diverted with value buying in recently faltered TCS, which gained hefty 5.66 pct coupled with banking, FMCG and auto counters lifted the market, buying in shares from small-cap and mid-cap companies also supported the sentiment.

However, energy counters witnessed profit-booking with Reliance Industries (RIL) logged a lose of 1.70 per cent
Meanwhile, Foreign Institutional Investors (FIIs) bought shares worth Rs 75.27 crore last Friday, as per the provisional figures issued by the stock exchange.
The market opened lower on weak Asian stock, later reversed the decline to trade higher during morning trade, it continued to trade in positive zone amid fluctuations, later extended gains to end in green.

The 50-share Nifty traded between between a high of 6,307.45 and a low of 6,243.35 before settling at 6,303.95, up 42.30 points, or 0.68 per cent, over the previous close.

Major gainers were TCS, Wipro, HCL Tech, IndusindBk, Sesa Sterlite, ITC, SBIN, AmbujaCem, Tata Motor and ICICI Bank.
Reliance, Tata Power, Grasim, Bharti Airtel and NMDC witnessed profit-booking.
Turnover in the cash segment dropped to Rs 10,012.18 crore from Rs 12,466.30 crore last Friday. A total of 5,090.42 lakh shares changed hands in 46,88,905 trades, while market capitalisation stood at Rs 68,21,002 crore.