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Nifty at over two-month high, finishes above 8,450

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Press Trust of India Mumbai
Market benchmark Nifty hit its over two-month high today by gaining 84.30 points following broad-based buying led by metal, auto, commodities, infra and energy counters ahead of January monthly derivative expiry tomorrow.

Resuming on a positive note, the market gradually built up gains on encouraging earning numbers amid some short-covering. Higher opening in European markets further supported the sentiment.

Foreign portfolio investors (FPIs) sold shares worth net Rs 288.80 crore yesterday, as per provisional data released by the stock exchanges.

Elsewhere, most Asian markets ended mixed amid uncertainty over US President Donald Trump's policies and his withdrawal from the Trans-Pacific Partnership trade deal.
 

European stocks were trading higher during afternoon trade.

The NSE 50-share Nifty index opened higher at 8,407.05 and hovered between 8,480.95 and 8,398.15 before closing at 8,475.80, a gain of 84.30 points, or 1 per cent.

The Nifty had last closed at 8,525.75 on November 10, 2016.

It saw an intra-day movement of about 82.80 points.

On the sectoral front, Commodities rose 1.77 per cent, followed by Metal (1.62 per cent), Auto (1.69 per cent), Infra (1.46 per cent), Energy (1.30 per cent), Pharma (1.23 per cent), Financials (1.18 per cent) and Bank (0.96 per cent).

Broader mid-cap and small-cap also surged 0.99 per cent and 0.36 per cent, respectively.

Meanwhile, slight profit-booking was witnessed in IT and Media counters.

Major index gainers were Ultratech Cement (3.66 per cent), Idea (3.48 per cent), Bajaj Auto (3.42 per cent), Grasim (3.13 per cent), Tata Power (3.03 per cent), Vedanta (2.94 per cent) and HDFC Bank (1.84 per cent).

However, Yes Bank fell 1.74 per cent, followed by HCL Tech (0.99 per cent), Bharti Airtel (0.99 per cent), Infosys (0.75 per cent) and Zee (0.74 per cent).

A total of 1,002 scrips advanced, 614 declined, while 88 remained unchanged. Total securities that hit their price bands were 110.

Turnover in the cash segment jumped to Rs 19,591.30 crore, from Rs 17,667.07 crore yesterday.

A total of 9,308.07 lakh shares changed hands in 7,981,603 trades. The market capitalisation of NSE stood at Rs 11,000,929 crore.

Disclaimer: No Business Standard Journalist was involved in creation of this content

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First Published: Jan 24 2017 | 6:33 PM IST

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