Nifty recovers 71 points on value buying

Snapping its six-session losing streak, Nifty staged a strong comeback today by rising 71 points on the back of value buying in energy, metal, realty, IT, infra, FMCG and bank sectors.
Pharma remained under pressure in today's trading session, while all other indices traded with positive bias.
The indices shrugged off weak global cues ahead of the crucial US Federal reserve meet next week.
At the NSE, 342.40 points were eroded in previous six sessions.
Overseas, European and Asian markets edged lower after a decline in US stocks overnight. US stocks eased in a choppy trading session yesterday as weak oil prices continued to feed global growth worries.

The 50-share Nifty resumed higher at 7,643.30 and moved in a range of 7,691.95 and 7,610.00 before closing at 7,683.30, rising by 70.80 points, or 0.93 per cent.

Energy emerged the biggest gainer among the sectoral indices, rising 2.51 per cent, followed by metal (1.88 per cent), realty (1.71 per cent), media (1.50 per cent), IT (1.15 per cent), infra (0.90 per cent), FMCG (0.90 per cent) and bank (0.30 per cent).
Major index gainers were Reliance by 3.76 per cent, followed by Tata Steel (2.71 per cent), Hindalco (2.64 per cent), HDFC (2.52 per cent) and BPCL (2.48 per cent).

However, M&M fell by 1.63 per cent, followed by Lupin (1.49 per cent), Yes Bank (1.34 per cent), Tata Motors (1.10 per cent) and SBI (1.05 per cent).
Turnover in cash segment rose to Rs 14,934.05 crore from Rs 14,890.30 crore yesterday. A total of 8,696.34 lakh shares changed hands in 71,76,511 trades.
The market capitalisation of NSE stood at Rs 94,10,714 crore.