Nifty snaps 4-day losing streak, zooms 98 pts

NSE benchmark Nifty snapped its 4-day losing streak to post its biggest single day gain of 98 points in three weeks and closed above the 8,200 mark on fresh buying in banking, infra, finance, FMCG and IT sectors on the back of higher global cues.
Sentiment improved following Finance Minister Arun Jaitley's statement that the draft of the model Goods and Services Tax (GST) bill is supported by most states except Tamil Nadu, which has expressed some reservations.
The 50-share index opened higher at 8,139.40 and hovered in a range of 8,213.30 and 8,123.15 before finishing at 8,206.60, gaining 97.75 points or 1.21 per cent.

The index had gained 134.75 points on May 26, 2016.
Nifty had dropped by 164.20 points or 1.98 per cent in previous four trading days.
Major gainers were SBI (4.02 per cent), NTPC (3.98 per cent), L&T (3.65 per cent), Bharti Airtel (2.70 per cent) and Maruti (2.56 per cent).

However, Bharti Infratel dropped 4.12 per cent, followed by Aurobindo Pharma (1.27 per cent), Adani Ports (0.77 per cent), Eicher Motor (0.62 per cent) and Dr Reddy's Lab (0.34 per cent).
Turnover in cash segment rose to Rs 16,593.58 crore from Rs 14,506.67 crore yesterday. A total of 11,261.39 lakh shares changed hands in 71,67,719 trades.

The market capitalisation of NSE stood at Rs 98,93,319.42 crore.