Nifty surges 93 pts on sustained buying, global cues

Nifty surged for the fourth consecutive day by rising 93.45 points to attain a two-week closing high following across the board buying at higher levels led by metal, energy, auto, realty and infra.
A strong rally in global stocks aided fresh upmove on the domestic bourses as investors interpreted the US Federal Reserve's move to raise interest rates.
In overseas stock markets, European shares rose as investors saw the US Federal Reserve's move to raise interest rates for the first time in nearly a decade as a sign of confidence in the world's biggest economy.
Asian stocks edged higher after the US Federal Reserve emphasised a gradual path for future interest rate hikes after raising the benchmark rate by 25 basis points.

The 50-share Nifty resumed higher at 7,783.05 and hovered in a range of 7,852.90 and 7,737.55 before ending at 7,844.35, up by 93.45 points, or 1.21 per cent.
Metal was the biggest gainers among the sectoral indices, up by 3.32 per cent, followed by Media (2.30 pct) Auto by 1.41 pct, Realty (1.36 pct), Infra by 1.18 pct, IT by 1.17 pct, Pharma (1.15 pct), Bank (0.98 pct) & IT (0.78 pct).

The broader indices benchmarks with midcap and small- cap outsmarted Nifty by 1.74 pct and 1.87 pct, respectively.
The prominent stock movers were, Tata Steel climbed by (5.07 pct) followed by Tata Power by (4.44 pct), Vedl by (3.69 pct), Hindalco by (3.50 pct) and Yes Bank by (3.23 pct).

However, Bosch Ltd fell by 2.01 per cent, Cairn by 0.99 pct, Idea by 0.89 pct, ONGC by 0.82 per cent and Axis Bank by 0.59 pct.
Of the total 1,597 securities traded, 1223 advanced, 317 declined and 57 remained unchanged.
Turnover in cash segment rose to Rs 16,999.65 crs from Rs 15,044.65 crores yesterday. A total of 9,421.54 lakh shares changed hands in 74,03,818 trades.
The market capitalisation of NSE stood at Rs 96,32,335 crores.