NSE benchmark Nifty snapped its two-day losing streak today, recovering by 138.20 points to end at 7,735.20 in view of short-covering ahead of the expiry of March contract tomorrow amidst positive global cues.
Persistent foreign capital inflows also boosted the market sentiment. Foreign funds continued their buying spree as they bought shares worth Rs 513.45 crore yesterday, as per the provisional data of stock exchanges.
Shares of metal, banking, financial services, commodities, infra and FMCG sectors firmed up on fresh buying.
The 50-share Nifty resumed higher at 7,651.10 and hovered between a range of 7,741.95 and 7,643.45 before finishing at 7,735.20, showing a gain of 138.20 points or 1.82 per cent from its last close.
It had dropped by 119.50 points or 1.55 per cent in previous two days.
Asian markets ended higher following overnight gains in US shares as investors welcomed the latest signal from the Federal Reserve that it will move slowly in raising interest rates.
Major gainers were Tata Steel (6.73 per cent), ICICI Bank (6.31 per cent), Lupin (5.26 per cent), Bank of Baroda (4.77 per cent) and Vedanta (4.50 per cent).
Major losers included Zee, which fell by 1.40 per cent, followed by M&M (1.01 per cent), HDFC (0.93 per cent), Bharti Airtel (0.20 per cent) and Maruti (0.07 per cent).
A total of 1,235 shares firmed up, while 337 declined and 49 ruled steady.
Turnover in cash segment rose to Rs 18,171.37 crore from Rs 18,061.45 crore yesterday .
A total of 9,477.31 lakh shares changed hands in 78,22,821 trades.
The market capitalisation of NSE stood at Rs 92,81,675 crore.
