Market over-runs initial hiccups

The market commenced on a better note but the initial gains could not be sustained with traders resorting to profit-booking on the back of sharp overnight rally.

The market gradually started moving up during mid-afternoon trade with buying in heavy-weights,bank and auto counters taking the key-index to the day8217;s highest point before witnessing some-more profit-booking in IT,FMCG,capital goods,realty and metal counters reducing the gains.

Reliance Capital,Rcom,PNB,Kotak Bank,Reliance,Tata Motors,Tata Power,RPower,Bajaj Auto and ICICI Bank topped the gainers list from Nifty.

However,JP Associates,DLF,Hindalco,BHEL,Lamp;T,Mamp;M,Cairn,Suzlon,TCS and Cipla were registered losses.

Total turnover in the cash segment rose to Rs 13,488.35 crore from Rs 12,898.44 crore yesterday. A total of 7,485.12 lakh shares changed hands in 67,21,332 trades. The market capitalisation stood at Rs 63,63,977 crore.