Market jumps,Nifty up by 2.15%

The 50-share Nifty index zoomed to a high of 5,149.90 before settling at 5,140.20.

The market staged a spectacular comeback on frantic across the board buying by funds amidst good global support,lifting the benchmark S&P CNX Nifty to close above the 5,100-mark at the NSE.

The 50-share Nifty index today zoomed to a high of 5,149.90 before settling at 5,140.20,a handsome gain of 108.25 points,or 2.15 per cent,over its last close.

Market opened on a modest note brushing aside subdued Asian cues on the back of bargain hunting in blue-chip shares and hectic short-covering. It gained strength as the session progressed with buying coming from across the board amidst immense fund participation.

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A sharp rebound after initial weak opening in European shares despite ongoing concerns over Greece default and downgrading of Italy further boosted the investors sentiment.

The final hour trade saw a flurry of buying activities across the sectors mainly led by banking,technology,oil&gas,fmcg,and pharma led the key-index to close higher.

Reliance Capital,RPower,Cairn,TCS,RCOM,Hindalco,SBIN,AxisBank,SAIL and Reliance were the top gainers from the Nifty. While,ONGC and BHEL registered losses.

Turnover in cash segment shot up to Rs 10,297.68 crore from Rs 8,184.16 crore yesterday. A total of 5,406.13 lakh shares changed hands in 53,96,770 trades. The market capitalisation stood at Rs 60,78,489 crore.

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S&P CNX Nifty

In Odisha, Modi mounts ‘loot tantra-vs-bachat utsav’ attack on Congress over GST

India9 hr ago

Prime Minister Narendra Modi Saturday hailed the revised Goods and Services Tax (GST) structures, saying the era of “double bachat (saving) and double kamai (income)” has arrived under the Bharatiya Janata Party rule. Addressing the ' Namo Yuva Samabesh' in Jharsuguda, Modi accused the Congress of indulging in “loot tantra (tactics)” while in power.

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