Nifty recovers by 11 pts to 8,726.60 on higher European cues

Fag-end buying by operators on the back of higher European cues pushed up the NSE Nifty by 11 points to end at 8,726.60 despite rise in inflation and fall in industrial production.
Wholesale inflation soared to a two-year high of 3.74 per cent in August and industrial production contracted by 2.4 per cent in July registering the worst performance in eight months mainly on account of declining output in manufacturing and capital goods sectors.
The NSE Nifty opened lower at 8,710.65 and hovered in a range of 8,739.85 and 8,688.90 before ending at 8,726.60, showing a gain of 11 points or 0.13 per cent.

The nifty had dropped by 236.90 points or 2.65 per cent in previous two days.
Other indices like Nifty PSU bank, commodities, media, auto and bank ended higher.
A total of 1,092 scrips advanced, 531 declined while 78 remained unchanged. Total securities that hit their price bands were 94.
Turnover in cash segment rose to Rs 22,029.69 crore from Rs 21,136.51 crore on Monday.
A total of 11,536.72 lakh shares changed hands in 87,03,486 trades. The market capitalisation of NSE stood at Rs 1,08,42,346.00 crore.