Nifty gains for third day, up 37 points in volatile trade

The 50-share index opened higher at 8,780.85 and hovered in a range of 8,847.65 and 8,750.50 before finishing at 8,779.85, showing a gain of 37.30 points or 0.43 per cent.

By: PTI | Mumbai | Updated: September 16, 2016 7:56 pm
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NSE benchmark Nifty extended gains for third consecutive session, up 37 points to finish at 8,779.85 following good buying in key heavyweights FMCG, IT, Energy and Auto counters.

The market tracked firm Asian peers after overnight gains in US markets on easing concerns over sooner rate hike by Federal Reserve meet next week due to disappointing sets of economic data, bolstering the domestic investors sentiment as hefty buying surged the key indices to mark 8,847.65 during intra-day.

Appreciating rupee also supported the sentiment, while lower European cues and profit booking during late afternoon in key Metal, PSU Banks and media followed by secondline shares of midcap and smallcap companies erased most gains, though market ended green.

The 50-share index opened higher at 8,780.85 and hovered in a range of 8,847.65 and 8,750.50 before finishing at 8,779.85, showing a gain of 37.30 points or 0.43 per cent.

Elsewhere, European stocks were trading lower weighed by losses in the financial sector and as investors became more cautious ahead of the Federal Reserve’s policy meeting.

Major gainers were Eicher Motors (3.10 per cent), Grasim (2.65 per cent), Axis Bank (2.28 per cent), Maruti (2.22 per cent), Infratel (1.97 per cent), BPCL (1.72 per cent), Infy (1.72 per cent) and TCS (1.49 per cent).

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However, Yes Bank dropped by 4.26 per cent, followed by BHEL (2.43 per cent), Zeel (2.15 per cent), Tata Steel (2.06 per cent) and Hndalco (1.99 per cent).

A total of 747 scrips advanced, 875 declined while 77 remained unchanged. Total securities that hit their price bands were 103.

Turnover in cash segment jumped to Rs 31,684.12 crore from Rs 19,231.73 crore on Thursday. A total of 14,201.63 lakh shares changed hands in 101,66,137 trades. The market capitalisation of NSE stood at Rs 1,08,89,005.00 crore.