Nifty reclaims 7900 mark to hit 3wk high; year-end bash starts

Indian markets posted a solid performance with aggressive buying activity as the benchmark Nifty surged over 64 points to reclaim the psycholigically significant 7,900 mark on National Stock Exchange(NSE) here.
Fresh burst of value buying in beaten-down stocks and hectic short-covering along side firm rupee sentiment, predominantly scripted the smart rebound.
The bourse commenced trading activities on a high note after a long Christmas weekend -- the first day of the final trading week for 2015 largely driven by across the sectors and extended its rallying momentum with the Nifty reclaiming 7900-mark with where investor sentiments continued to remain positive in anticipation of favorable macro outcome.

However, the market could not hold on to the pace till the end and witnessed mild pullback, as investors were not confident enough about the current movements and also impacted by knee-jerk volatility ahead of F&O expiry event.
Elsewhere in the region, barring Japan's Nikkei, most Asian markets ended lower in thin-volume trade led by China on disappointing corporate earnings and falling oil prices.
The Nifty opened higher at 7,863.20 and rallied further fresh intra-day high of 7,937.20 before ending at 7,925.15, showing a solid gain of 64.10 points, or 0.82 per cent - the level not seen since December 2, this year.

Reflecting the positive sentiment, 35 stocks out of 50-share index gained, while 15 shares ended with losses.

The foreign investors stood on the selling side for the week recording a net foreign outflow of more than Rs 6,500 crore from the capital markets since beginning of the month on account of weak global cues.
Among the major sectors, pharma rose (1.81 per cent), energy (1.16 per cent), auto (1.13 per cent), Nifty Bank (1.00 per cent), IT (0.78 per cent), FMCG (0.47 per cent), realty (0.53 per cent). Metal, however plunged by over 1.08 per cent.
Index performance was mainly driven up by ICICI Bank, Tata Motors, Sun Pharma, Reliance, TCS, Infosys, Dr Reddys, ITC, ONGC, NTPC, Lupin, Adani Ports, Axis Bank and HDFC Bank.

Key losers were Bharti Artel, Tata Steel and Idea.
Turnover in cash segment jumped to Rs 14,251.41 crore against Rs 13,390.56 crore last Thursday. A total of 7,827.87 lakh shares changed hands in 58,75,134 trades. The market capitalisation of NSE stood at Rs 97,94,118 crore.