Nifty snaps two-day losing run, ends above 8600-level

After two-day correction, benchmark NSE Nifty rose during the fag end of trade to close above 8600 level, up 35 points on late bouts of buying in media, auto, energy, PSU Bank and infra stocks despite weak global cues.
On global front, European stocks were trading lower as the US dollar strengthened after hawkish comments from the US Federal Reserve head indicated interest rates could be raised sooner than expected, and due to weak oil prices. Japan's Nikkei climbed 2.3 percent, boosted by a weaker yen, while other Asian markets struggled.
The 50-share Nifty opened lower at 8,583.75 and hovered between 8,622 and 8,543.75, before ending at 8,602.45, showing a rise of 34.90 points or 0.41 per cent from its last close. It witnessed an intra-day movement of about 78.25 points.

On sectoral front, media climbed by 2.58 per cent followed by auto (1.66 per cent), energy (1.26 per cent), Metal (1.09 per cent), PSU Bank (0.88 per cent) and Infra (0.78 per cent).
However, Nifty IT fell by 1.31 per cent and Pharma 0.11 per cent.
Notable index gainers were Zeel (4.76 percent), Tata Motors (4.28 per cent), HeroMotoco (3.24 per cent), Reliance (2.87 per cent), TataMtrDvr (2.55 per cent), Hindalco (2.45 per cent), Larsen (2.23 per cent), ICICI Bank (2.12 per cent) and Adaniports (2.08 per cent).

Notable laggards included HCL Tech (3.04 per cent), InfraTel (2.54 per cent), Wipro (2.29 per cent), TechM (2.26 per cent), Lupin (2.13 per cent), HDFC Bank (1.48 per cent) and Asian Paints (1.31 per cent).

A total of 889 scrips declined, 711 advanced, while 80 remained unchanged. Total securities that hit their price bands were 104.
Turnover in cash segment fell to Rs 16,276.17 crore from Rs 17,712.07 crore as on last Friday.
A total of 8,296.92 lakh shares changed hands in 71,20,964 trades. The market capitalisation of NSE stood at Rs 1,07,45,247.65 crore.