Nifty climbs 68 points to end above 8,200-mark on FDI boost

Major gainers were Tata Motors (3.80 per cent), Tata Steel (3.32 per cent), Ambuja Cement (2.59 per cent), Tata Mtrc (2.56 per cent) and Infy (2.48 per cent).

By: PTI | Mumbai | Updated: June 20, 2016 6:52 pm

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The benchmark Nifty climbed 68.30 points to finish at 8,238.50 on bouts of buying in key front-lines stocks of IT, auto, energy, metal, pharma, PSU banks ,auto, banking and finance sectors on the back of higher global cues.

Earlier, the market resumed weak following Reserve Bank of India Governor Raghuram Rajan saying no to the second term, but soothing comments from rating agency fitch, higher global cues on fading Brexit fears and above all Government relaxing Foreign Direct Investment (FDI) norms in a host of sectors including civil aviation, single-brand retail, defence and pharma led the market to recoup losses to mark above 8,244.15 during intra-day before ending substantially green.

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Elsewhere, Asian markets ended higher as the yen weakened against the dollar amid rising expectations of Britain voting to remain in the European Union (EU) lifted risk sentiment.

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European stocks rose after polls over the weekend showed resurgence in support for the UK staying in the European Union (EU) ahead of the 23 June Brexit referendum.

Foreign portfolio investors bought shares worth net Rs 31.96 crore last Friday, as per provisional data.

The 50-share index resumed lower at 8,115.75 and slid to 8,107.35, later rebounded to a high of 8,244.15 before finishing at 8,238.50, showing a gain of 68.30 points 0.84 per cent.

Major gainers were Tata Motors (3.80 per cent), Tata Steel (3.32 per cent), Ambuja Cement (2.59 per cent), Tata Mtrc (2.56 per cent) and Infy (2.48 per cent).

A total of 875 scrips gained, 677 declined while 87 were unchanged.

Turnover in cash segment fell to Rs 16,642.73 crore from Rs 17,710.99 crore yesterday. A total of 10,298.41 lakh shares changed hands in 71,86,884 trades.

The market capitalisation of NSE stood at Rs 99,50,658 crore.

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