Nifty marginally up by 10 pts; bank, metal stocks surge

Rising for the fourth straight day, NSE benchmark Nifty edged higher by 10 points to close at four-week high following sustained buying in PSU bank, metal, and pharma sectors on the back positive global cues.
The market closed with the highest weekly gain since December 2011.
European stocks traded with small gains. Most markets in Asia edged higher after a batch of positive US economic data overnight.
The 50-share broader index opened higher at 7,505.40 and hovered in a range of 7,505.90 and 7,444.10, before ending at 7,485.35, a marginal gain of 9.75 points, or 0.13 per cent its highest closing level since February 5, 2016.

The index rose 30.30 points or 0.4 per cent to the day's high of 7,505.90.
Among the sectoral indices, PSU bank rose 3.28 per cent, followed by metal (1.77 per cent), banks (1.06 per cent), realty (1.03 per cent), financial service (0.90 per cent) and pharma (0.31 per cent).

However, IT, infra and FMCG moved down by 0.67 per cent, 0.28 per cent and 0.33 per cent, respectively.
The broader mid-cap and small-cap indices rose by 0.90 per cent and 0.96 per cent, respectively.
Major gainers were PNB (5.06 per cent), BHEL (4.16 per cent), Vedanta (4.11 per cent), Coal India (3.52 per cent) and BPCL (3.20 per cent).

Losers included HCL Tech, Idea, Asian Paints and Sun Pharma.
The market breadth was positive as 954 stocks ended higher, 586 finished lower, while 66 ruled steady of the total 1,606.
Turnover in cash segment eased to Rs 18,177.98 crore from Rs 18,725.94 crore yesterday. A total of 10,845.27 lakh shares changed hands in 79,97,949 trades.
The market capitalisation of NSE stood at Rs 89,92,361 crore.