Nifty snaps six-day losing streak, inches up 10 pts

The market snapped a six-day losing run today on value buying in fundamentally strong scrips as well as recently beaten-down shares as the NSE benchmark Nifty managed to garner 9.90 points lead to end at 8,060.70.
Earlier, the market opened in the green on Asian stocks as well as encouraged by the jump in domestic core sector data, which touched a four-month high, and Moody's projection of 7.5 per cent growth for the current fiscal.
Buying in initial deals led the index to reclaim 8,100- mark before intense volatility amid caution over lackluster corporate earnings lead it to the negative terrain couple of times before finally ending with marginally gains.

Buying in energy, IT, pharma, commodities counters and shares of mid-cap and small-cap companies supported the index, however, banking segment witnessed profit-booking.
The 50-shares broader index opened higher at 8,086.35 and hovered in a range of 8,100.35 and 8,031.75 before closing at 8,060.70, showing a gain of 9.90 points or 0.12 per cent.
Elsewhere, Asian shares ended higher as investors shook off concerns about Chinese growth, while European markets were trading lower in early deals.

Stockwise major gainers were, NTPC 2.26 per cent, Power Grid 2.09 per cent, M&M 1.99 per cent, ACC 1.97 per cent, Hindalco 1.73 per cent, Infosys 1.26 per cent and TCS 1.04 per cent.

Notable losers were Asian Paints 1.92 per cent, Tata Motors 1.52 per cent, Adani Port 1.47 per cent, Tata Steel 1.34 per cent and Lupin 1.32 per cent.
Turnover in cash segment declined to Rs 14,992.71 crore from Rs 15,316.51 crore yesterday. A total of 8,026.79 lakh shares changed hands in 70,76,503 trades and the market capitalisation of NSE stood at Rs 96,80,928 crore.