Nifty snaps seven-session losing streak, rises 100 points

Snapping its 7 sessions of fall, the NSE benchmark Nifty rebounded by 100 points to 10,576.85 on strong Asian market and the RBI's less hawkish tone.
Buying activity emerged mainly in Pharma, Realty, PSU bank, Media, Metal, Auto, IT and Finance service sectors.
Positive Asian cues and Brent crude futures trading at one-month low around USD 65 a barrel against USD 71 in January also boosted the market sentiment.
Lesser hawkish stance of the Reserve Bank of India (RBI) in its monetary policy meeting concluded yesterday, also supported the gains on the bourses.
Overseas, European stocks edged lower as investors waded through the latest batch of corporate earnings, ahead of a central bank decision in the UK. Asian stocks ended higher, with the Japan's Nikkei rising 1.1 per cent, whereas China's Shanghai Composite fell 1.4 per cent.

The Nifty 50 index rose 100.15 points or 0.96 per cent to end at 10,576.85. It moved in a range of 10,637.80 and 10,479.55. The benchmark saw an intra-day movement of about 158.25 points.

The broader markets outperformed benchmarks, with the Nifty Midcap and Smallcap up 1.78 per cent and 2.40 per cent, respectively.
On the sectoral front, Pharma rose by 3.66 per cent, followed by realty 2.57 per cent, PSU bank 2.64 per cent, media 2.01 per cent, Metal 1.46 per cent, Auto 1.15 per cent, Finance Service 1.11 per cent, IT 1.11 per cent, Bank 0.98 per cent, Pvt Bank 0.81 per cent and Infra 0.64 per cent.

Index gainers were Cipla, AmbujaCem, Sunpharma, Infratel, IbulHsgFin, Dr Reddy, SBIN, UPL and Infosys.
Major losers were Auropharma, NTPC, ONGC, Adaniports, ITC, Tata Motors, Hindalco, Vedl and IOC.
The market breadth, indicating its overall health, was in favour of gainers. On the NSE, 1,497 stocks advanced, 301 declined and 52 remained unchanged.
Total securities that hit their price bands were 311.
Turnover in the cash segment rose to Rs 34,882.63 crore from Rs 33,746.25 crore yesterday.
A total of 15,882.63 lakh shares changed hands in 12,561,289 trades. The market capitalisation of listed firms on the NSE stood at Rs 1,46,17,918.82 crore.