Nifty rises 111 points to 4-week high

The second day of the New Year closed with a big bang as the benchmark CNX Nifty flared up by over 111 points to end at four-week high of 8,395.45 on encouraging manufacturing data and hopes of more reforms by the government in the coming days.
Finance, banks, infrastructure, IT, commodities, MNCs and metal counters were at the forefront of the rally.
Generally, buying was seen across the board.
From the banking and financials segments, shares like HDFC, ICICI Bank, HDFC Bank, Axis Bank, SBI, LIC Housing Finance and Bank of India rose.
"Banking sector rallied for the day with the hopes of some pro-industry outcome from the two-day conclave in Pune," said Rakesh Goyal, Senior Vice President, Bonanza Portfolio.

The broader 50-issue CNX Nifty of National Stock Exchange (NSE) resumed nearly stable and gradually moved upwards to cross 8,400-mark to a high of 8,410.60 before ending at 8,395.45, a smart rise of 111.45 points or 1.35 per cent.

An HSBC survey said India's manufacturing sector grew at its fastest pace in two years in December on strong order flows from domestic buyers as well from abroad.
Meanwhile, foreign portfolio investors (FPIs) bought shares worth Rs 18.20 crore yesterday, as per provisional data available with stock exchanges.
Five major gainers from Nifty were HDFC (4.26 per cent), Asian Paints (3.46 per cent), Jindal Steel (3.45 per cent), Ultratech Cement (2.99 per cent) and ICICI Bank (2.84 per cent).

While, losers were BPCL (1.5 per cent), M&M (1.00 per cent), NMDC (0.88 per cent), HUL (0.33 per cent) and RIL (0.26 per cent).
Turnover in the cash segment shot up to Rs 14,057.40 crore from Rs 8,585.42 crore yesterday. A total of 8,233.97 lakh shares changed hands in 62,61,413 trades and the market capitalisation stood at Rs 97,20,661 crore.