Nifty up by 29 points, Pharma and IT stocks rally

The benchmark Nifty recouped from its two session losses, mainly supported by a rally in Pharma and IT stocks leading the key index to garner 28.60 points to end at 8,495.15 at the National Stock Exchange (NSE).
Bouts of value-buying and the rupee witnessing a fresh two-year lows in the intial deals lifted the export oriented stocks, while a sense of recovery in Chinese markets after its overnight slide helped the indices to bunch-up the affirmative momentum to end in Green.
The key index marked both days high and lows in today's session, while opening negative amid weak global trends, it tagged to a low of 8,425.95 in the morning, later rallied on volatile momentum to register 8,520.45 before ending with moderate gains.

Buying in Auto, Energy, FMCG and Infra stocks found buying interest. While, Banking space including financials and PSU banks, Metal and Realty witnessed profit-booking.
Among the second line shares, the midcap gained, while smallcap saw selling pressure.
Elsewhere, most of Asian stocks ended lower, barring China's Shanghai composite which recovered from its initial losses. While European markets trading broadly in negative.

The broader 50-share Nifty hovered between a high of 8,520.45 and a low of 8,425.95 before finishing at 8,495.15, showing a gain of 28.60 points, or 0.34 per cent over its last close.
Major gainers were ACC (4.29 per cent), SunPharma (4.27 per cent), Lupin (2.53 per cent), Wipro (2.38 per cent), HCL Tech (1.91 per cent), Cipla (1.80 per cent), ICICI Bank (1.13 per cent) and Reliance (1.11 per cent).

Notable losers were Hindalco (3.09 per cent), SBIN (2.39 per cent), Coal India (2.33 per cent), Bank of Baroda (1.95 per cent) and Axis Bank (1.31 per cent).
Turnover in the cash segment rose to Rs 17,377.37 crore compared to Rs 17,014.90 crore yesterday.
A total of 9,556.40 lakh shares changed hands in 81,21,524 trades and the total market capitalisation of NSE stood at Rs 1,01,67,665 crore.