Nifty snaps 3-day losing streak

The NSE benchmark Nifty snapped its three-day losing streak and closed 37 points higher to close at 10,397.45 ahead of the expiry of derivative contracts for February series tomorrow.
Opening higher, later the market witnessed diversified trading activity led by buying index heavyweights in IT, PSU Bank, FMCG, Energy and Media sectors, while hectic shortcovering was the order of the day as investor played with recently hammered stocks of Pharma, Metal, Realty and Auto counters.
The broader NSE Nifty closed higher by 37.05 points, or 0.36 per cent, at 10,397.45, its highest closing level since 16 February 2018, after shuttling between 10,426.10 and 10,349.60.

It had lost 185.10 points in the previous three sessions.
Overseas, European stocks fell ahead of the release of minutes from the US Federal Reserve's January meeting that could provide the first specific detail on interest rate hikes under new chairman Jerome Powell.
While, most Asian stocks rose in choppy trading.

It saw an intra-day movement of about 76.50 points.
On sectoral front, IT rose by 2.33 per cent, followed by PSU Bank 1.09 per cent, FMCG 0.82 per cent, Energy 0.51 per cent, Media 0.31 per cent, Financial service 0.24 per cent and PVT Bank 0.21 per cent.
However, Pharma fell by 1.97 per cent, Metal 1.37 per cent, Realty 0.69 per cent and Auto 0.19 per cent.

Major Index gainers were HCL Tech 3.91 per cent, Tech Mahindra 3.66 per cent, TCS 3.31 per cent, ITC 1.88 per cent and ONGC 1.68 per cent.
Losers were Sun Pharma 6.03 per cent, Hindalco 3.28 per cent, Bajaj Finance 2.58 per cent, IndusInd bank 1.75 per cent and Tata Steel 1.59 per cent.
The market breadth, indicating its overall health, was in favour of losers. On the NSE, 673 stocks advanced, 1,097 declined and 78 remained unchanged.
Total securities that hit their price bands were 187.
Turnover in the cash segment rose to Rs 28,622.37 crore from Rs 27,137.05 crore yesterday.

A total of 12,104.80 lakh shares changed hands in 10,190,353 trades. The market capitalisation of listed firms on the NSE stood at Rs 1,44,12,277 crore.