Select buying drives market; NSE Nifty regains 5,200 mark

After a sluggish start, the key index mostly traded in a tight range while moving sideways throughout the session due to lack of domestic cues amid bearish global sentiment. Most actions were centred around second line counters along with mid and small-cap scrips.

The directionless market took a sudden U-turn in late afternoon on the back of good buying in recently battered banking, metal, technology and auto counters and managed to end above the important 5,200 level. Gains were limited owing to prevailing macro-economic worries and weak monsoon.

A firm opening in European bourses as well as better- than-expected earnings posted by auto major Bajaj Auto, too, boosted the trading sentiment.

The 50-share Nifty swung between a high of 5,222.85 and a low of 5,169.05 before ending at 5,216.30, a rise of 23.45 points, or 0.45 per cent, over the last close.

Bajaj Auto, Tata Power, Sesa Goa, Jindal Steel, DLF, Maruti, Sterlite Industries, Reliance Infra, BHEL and L&T were among the top gainers from the Nifty family.

PNB, Tata Motors, Bank of Baroda, Dr Reddy's, Ranbaxy, Cairn, Cipla, Power Grid, NTPC and Reliance topped the losers' list.

The turnover in cash segment rose to Rs 8,856.50 crore against Rs 7,977.60 crore yesterday. In all, 5,396.86 lakh shares changed hands in 47,27,063 trades. Market capitalisation stood at Rs 59,95,019 crore.