Nifty hits two months high, ends above 8,350

Hitting a two month high, the NSE Nifty surged 92.05 point to settle at 8,380.65 amid widespread buying in Metal, Banking, PSU Banks, Pvt Banks, infra, commodities, media and auto counters amid firm global peers.
Sentiment buoyed up by higher Asian ques on ahead of US President-elect Donald Trump's news conference later in the day that will give his policy insight.
Metals rallied by above 4 per cent after China said it would be closing all of its medium frequency furnaces by June 2017. Also banks rallied taking cues from IndusInd Bank posting strong Q3 results.
European and Asian stocks edged higher ahead of the first address of US President-elect Donald Trump. Markets are hoping for some concrete views from Trump on policy and a checklist of his priorities as he meets the press today.

The NSE 50-share Nifty index opened higher at 8,327.80 and hovered in a range of 8,389.00 and 8,322.25 before ending at 8,380.65, showing a gain of 92.05 points or 1.11 per cent.
It saw an intra-day movement of about 66.75 points.

On the sectoral front, metal climbed by 4.27 per cent, Pvt Bank 2.37 per cent, PSU Bank 2.30 per cent, Bank 2.28 per cent, Fin. Service 1.50 per cent, Infra 1.05 per cent, Pharma 0.94 per cent and Auto 0.91 per cent.
While, only IT edged-down by 0.01 per cent.
Major index gainers were Hindalco (6.42 percent), Indusindbank (6.30 per cent), Coal India (5.41 per cent), Bank of Baroda (4.35 percent), Yes Bank (4.21 percent) and Tata Steel (3.79 per cent).

However, Bajaj Auto fell by (0.81 per cent), ITC (0.56 per cent), HCL Tech (0.55 per cent), ONGC (0.40 percent) and Reliance (0.35 per cent).
A total of 1,085 scrips advanced, 546 declined while 81 remained unchanged. Total securities that hit their price bands were 106.
Turnover in the cash segment climbed to Rs 21,562.17 crore from Rs 17,867.45 crs yesterday.
A total of 11,047.28 lakh shares changed hands in 8,536,513 trades. The market capitalisation of NSE stood at Rs 10,836,775 crore.