Nifty recovers 39 points ahead of F&O expiry

The NSE Nifty recovered from its three session losses on buying in banks, auto and infra stocks gaining 38.75 points to close at 8,745.15 in a volatile trade, ahead of F&O derivative expiry tomorrow.
The market endured the volatility and initial range-bound momentum amid bouts of value buying and short-covering in view of F&O derivative expiry tomorrow, while firm European cues and sign crudeoil recovery lifted the sentiments as the key indices ended substantially green.
Buying was led by Banking segments (including PSU banks and private financials), media, metal, realty, infra, commodities and auto well supported by secondline shares of midcap and smallcap companies.

While, IT, Energy and Pharma counters incurred some losses.
The NSE Nifty opened slighty higher at 8,711.20 and hovered between 8,767.05 and 8,703.15 before ending at 8,745.15, showing a gain of 38.75 points or 0.45 per cent.
Elsewhere, Other Asian markets fell led by a drop in Japanese stocks, While, European stocks rose with investor sentiment buoyed by a rally in the banking sector and tracking developments ahead of a meeting of members and non-members of the Organization of the Petroleum Exporting Countries (OPEC).

Major gainers were Eicher Motor 4.64 pct followed by Hndalco 4.57 pct, IDEA 3.71 pct, Tata Steel 3.37 pct and Zeel 2.93 pct.

Notable losers were Reliance 1.79 pct, TeckM 1.64 pct, Coal India 1.29 pct, HUL 1.13 pct and SunPharma 0.69 pct.
A total of 1,037 scrips advanced, 583 scrips declined, while 79 remained unchanged. Total securities that hit their price bands were 108.
Turnover in cash segment climbed to Rs 21,605.26 crs from Rs 19,095.04 crore yesterday.
A total of 11,059.34 lakh shares changed hands in 76,31,273 trades. The market capitalisation of NSE stood at Rs 10,998,796 crore.