The CNX Nifty of the National Stock Exchange (NSE) washed out its initial sharp losses and extended its gains for the fourth straight session to end up by 25 points at nearly a two-week high of 8,146.30, on buying in select key counters, despite weak global cues.
Heavyweights like ITC, Tata Motors and ONGC were in keen demand and led the rally.
The market resumed on a weak note tracking lower Asian trends but buying after mid-session helped the index to land in positive terrain at close.
The 50-issus CNX Nifty resumed lower at 8,084.45 from last close of 8,121.45 points and dropped to a low of 8,064.80 points, showing a fall of nearly 82 points.
Later, it bounced back after mid-session, to settle at 8,146.30 points -- a level not seen since September 9,2014 when it had concluded at 8,152.95 points.
Among major gainers from the Nifty were Tata Motor 4.08 pct, ONGC 3.74 pct, ITC 3.16 pct, BPCL 1.99 pct and Indus Ind Bank 1.98 pct. While losers were DLF 3.05 pct, Asian Paint 2.50 pct, Cipla 2.42 pct, IDFC 2.26 pct and BHEL 2.14 pct.
Asian stocks closed lower on weak Chinese data. Key indices from China, Hong Kong, Japan, Singapore, South Korea and Taiwan ended down between 0.26 pct and 1.70 pct.
European markets too were trading lower in their late morning deals.
Turnover in the cash segment dropped to Rs 14,631.38 crore, from Rs 22,944.11 last Friday. A total of 8,345.77 lakh shares changed hands in 68,77,643 trades, while market capitalisation stood at Rs 93,93,886 crore.
