Market's initial losses were countered by value buying in key IT, auto, banks and metals counters, leading the CNX Nifty to maintain the important 6,000-mark level to end higher by 21.50 points at the National Stock Exchange today.
The market witnessed extreme volatility most of the session, but firming global trend and buying in recently hammered shares Tata Steel, TCS, Tata Motors and M&M lifted the bourses.
Buying in shares from mid-cap and small-cap companies also supported the gain.
Ranbaxy surged nearly 6 pct on reports of sharp decline in losses at 158.48 crore at its fourth quarter ended December 31,2013, while power equipment major BHEL fell by 1.23 pct following subdued profits in Q3 ended December.
Foreign institutional investors (FIIs) sold shares worth a net Rs 1,234.02 crore yesterday, as per the provisional data from the stock exchanges.
The market opened lower on choppiness triggered by overnight dumping data from FIIs and languished in the morning trade. The afternoon saw the market recouping the losses on firm European opening, to end in green.
The 50-share index traded between a high of 6,028.05 and a low of 5,962.05 before finishing at 6,022.40, up 21.50 points, or 0.36 per cent, from its previous close.
Major gainers were Ranbaxy, Tata Steel, DLF, Tata Motors, M&M, Coal India, NMDC, TCS, IndusindBk and Asian Paint. While ITC, BHEL, PNB and Maruti incurred losses.
Turnover in the cash segment declined to Rs 10,858.60 crore from Rs 11,240.83 crore yesterday. A total of 5,431.41 lakh shares changed hands in 56,68,864 trades, while the market capitalisation stood at Rs 65,47,921 crore.
