Nifty snaps 2-day losing streak, rises 79 pts

The NSE Nifty rebounded by 79 points to 11,435.10 after two-day losses following fresh buying mainly in pharma, realty, media, IT, energy, banking and FMCG sectors boosted by positive macro sentiments.

Retail inflation slowed a nine-month low, providing comfort to the government and Reserve Bank of India. Retail inflation dropped to a nine-month low of 4.17 per cent in July from 4.92 per cent a month ago, on the back of softening food prices and a favourable base.

The Nifty 50 index rose 79.35 points or 0.70 per cent to 11,435.10, Nifty rose 96.70 pts, at the day's high of 11,452.45 intraday trade. The index rose 15.05 points, at the day's low of 11,370.80.

It saw an intra-day movement of about 81.65 points.

On the sectoral front, Pharma fell by 3.21 per cent followed by realty 1.98 per cent, media 1.41 per cent, energy 1.11 percent, IT 0.87 per cent, Bank 0.82 per cent, fmcg 0.78 per cent, finance service 0.58 per cent, Auto 0.43 per cent, metal 0.26 per cent and PSU Bank 0.18 per cent.

However, Infra fell by 0.64 per cent.

Major index gainers were Sunpharma, Yes Bank, Lupin, Baj Finance, UltraCemCo, Cipla, ICICI Bank and Axis Bank.

Losers were UPL, HeroMotoCo, Larsen, HindPetro, Adaniports, BPCL, NTPC, InfraTel, Mahindra&Mahindra and Vedl.

The market breadth, indicating its overall health, was in favour of losers. On the NSE, 892 stocks advanced, 902 declined and 118 remained unchanged.

Total securities that hit their price bands were 216.

Turnover in the cash segment rose to Rs 31,003.12 crore from Rs 29,316.77 crore yesterday.

A total of 14,123.18 lakh shares changed hands in 1,08,37,355 trades. The market capitalisation of listed firms on NSE stood at Rs 1,52,73,425.83 crore.

National stocks exchange (NSE) market will remain closed on Wednesday for the "Independence Day" holiday.