Nifty recoups 3-day losses on heavy buying; surges 72 pts

Breaking a three-session downfall, equities staged a strong rebound following across the board buying spree with the benchmark Nifty surging over 72 points on the National Stock Exchange (NSE) here.
The prospect of an interst rate hike delay by the Federal Reserve on the back of weak US retail data and expectations that Chinese policymakers will introduce more stimulus to shore up growth too provided much-needed support to the recovery momentum.
Overall, investor sentiment generally remained buoyant due to a positive earnings season which is currently underway.
Though, the earnings season has got off to a tapid start with TCS and HUL missing estimates alongwith Infosys' cautious comments.

The gauge had lost nearly 80 points in the previous three sessions reacting to disappointing Q2 earnings outcome.
Approval of one- time financial assistance for "physically incomplete and languishing" national highway (NH) projects also added some sentiment effect to the rally.

After a strong start, bourses kept the rallying momentum intact till the final session to end with healthy gains.
The 50-share index resumed firmly higher at 8,134.35 and moved between 8,190.55 and 8,129.80 before ending at 8,179.50, showing a smart gain of 71.60 points, or 0.88 per cent.
Among the sectoral contributions, Media shot-up by (5.20 pct), Auto (2.28 pct), PSU Bank (2.03 pct), Metal (1.23 pct), Infra (1.19 pct), Energy (0.93 pct) and Bank Nifty (0.81 pct).

However, Tech remained under intense selling pressure.
Zee and Tata motors were the biggest index movers, surging over 8.32 and 8.23 per cent, respectively. Other key gainers included ITC, ICICI Bank, Maruti, L&T, SBI, ONGC, Adani Ports, BPCL, Yes Bank, Heromotoco, Lupin, Bharti Artel, BHEL, Tata Steel, Bank of Baroda and Gail.
Notable losers are TCS, M&M, Cipla, Wipro, HUL and NTPC.
Turnover in the cash segment jumped to Rs 15,892.79 crore from Rs 14,720.70 crore yesterday. A total of 8,873.65 lakh shares changed hands in 73,39,577 trades and the market capitalisation of NSE stood at Rs 97,49,250 crore.