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Nifty rebounds 85 pts on strong global cues

Press Trust of India  |  Mumbai 

benchmark Nifty rebounded 85 points today on robust buying in realty, energy, pharma and auto counters amid positive global cues.

All sectoral indices ended in the green barring IT and PSU bank, as bargain hunting continued.

Overseas, European registered strong gains, erasing part of their sizable monthly loss.

Asian stocks gained after a late-day rally on Wall Street on Friday, as investors fretted about the risks from looming US inflation data. Japanese markets are closed today in observance of a public holiday.

The Nifty opened higher at 10,518.20 and traded between 10,555.50 and 10,485.40 before settling at 10,539.75, a gain of 84.80 points, or 0.81 per cent. It saw an intra-day movement of about 70.10 points.

The key index lost 121.90 points in its previous session.

Back home, the broader markets continued to outperform frontline indices as the index gained 1.4 per cent and the BSE Smallcap was up 1.6 per cent.

Sector-wise, realty rallied 1.69 per cent, followed by 1.39 per cent, pharma 1.27 per cent, auto 1.16 per cent, media 1.12 per cent and Pvt 1.12 per cent, while IT fell by 0.56 per cent and 0.22 per cent.

Major index gainers were 4.06 per cent, 3.03 per cent, 3.02 per cent, Power Grid 2.74 per cent and UPL 2.56 per cent.

Losers included SBI 2.58 per cent, 2.58 per cent, BPCL 1.65 per cent, 1.07 per cent and Infratel 0.95 per cent.

The market breadth, indicating its overall health, was in favour of gainers. On the NSE, 1,429 stocks advanced, 383 declined and 49 remained unchanged.

Total securities that hit their price bands were 284.

Turnover in the cash segment declined to Rs 30,902.39 crore from Rs 31,582.68 crore on last Friday.

A total of 15,351.45 lakh shares changed hands in 10,583,311 trades. The market capitalisation of listed firms on the stood at Rs 1,47,21,805 crore.

The stock markets will remain closed tomorrow, 13 February 2018, on account of 'Mahashivratri'.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, February 12 2018. 18:55 IST