Nifty snaps two-day losing streak, recovers by 53 pts

The Nifty 50 index gained 53.30 points or 0.61 per cent to settle at 8,778.00, on fresh buying from investors and operators following overnight gains in US market.
Shares of IT, pharma and realty stocks led gains on the bourses.
However, drop in index heavyweight ITC capped gains.
The Nifty advanced 53.30 points or 0.61 per cent to settle at 8,778.00, (its highest closing level since 14 February 2017). The index rose 59.25 points, or 0.67 per cent at the day's high of 8,783.95. It fell 5.10 points, or 0.05 per cent at the day's low of 8,719.60.
It had shed 80.35 points in the last two sessions.

Overseas, European stocks edged lower and Asian stocks were mixed despite a strong overnight lead from Wall Street. Wall Street indices jumped to record closes again yesterday, on fresh assurances that President Donald Trump intends to press ahead with tax cuts soon. For the fifth straight day, the three major US equity indices ended at all-time highs. US stocks have been on a tear since last week when Trump vowed to release details of his promised tax cut plan within two to three weeks.

Major gainers were Sun Pharma 4.21 per cent, Auro Pharma 3.33 per cent, Infy 3.09 per cent, Tata Motors 2.80 per cent and Maruti 2.76 per cent.

However, losers were ITC 2.47 per cent, Infra Tel 1.39 per cent, Bosch Ltd 1.22 per cent, Asian Paints 1.20 per cent and BPCL 0.79 per cent.
A total of 1,163 scrips advanced, 483 declined, while 68 remained unchanged. Total securities that hit their price bands were 110.
Turnover in the cash segment declined to 21,744.28 cr from Rs 22,334.20 cr yesterday.
A total of 10,698.80 lakh shares changed hands in 83,293,51 trades. The market capitalisation of NSE stood at Rs 11,394,187 cr.