Financials News

Nifty above 10,400-mark on global rally

Nifty above 10,400-mark on global rally

Mumbai: The benchmark Nifty reclaimed the key 10,400 mark today by surging 194.55 points to settle at 10,421.40 on a broad-based rally mirroring robust global cues.

The key indices opened gap-up and traded firm through-out the session triggered by the relief rally in Asian markets after the latest US jobs report eased fears of inflation and faster rate hike.

Stocks of public sector banks declined, while of private sector banks advanced.

Overseas, Asian and European equities edged higher as trade-war concerns took a backseat to economic optimism following a stronger-than-expected jobs report in the US.

The broad-based NSE Nifty closed above the key 10,400- level at 10,421.40, showing a gain of 194.55 points or 1.90 per cent after shuttling between 10,433.65 and 10,295.45. This was its biggest single day gain since March 1, 2016 when it jumped 235.25 points.

It saw an intra-day movement of about 138.20 points.

Sector-wise, FMCG rose 2.62 per cent, energy 2.20 per cent, metal 2.14 per cent, Pvt Bank 1.89 per cent, Nifty Bank 1.51 per cent, Finance 1.50 per cent and auto 1.45 per cent, while PSU Bank fell by 0.47 per cent.

Major index gainers were Bharti Airtel 4.82 per cent, Vedanta 4.36 per cent, ITC 4.19 per cent, NTPC 4.11 per cent and IOC 3.93 per cent.

Coal India fell 2.10 per cent while other notable losers were Auro Pharma 1.62 per cent and SBI 0.16 per cent.

A total of 984 scrips advanced and 832 declined, while 57 remained unchanged.

As many as 256 securities hit their price bands.

Turnover in the cash segment rose to Rs 27,068.13 crore, from Rs 25,974.78 crore last Friday.

The market capitalisation of listed firms on the NSE stood at Rs 1,42,64,537 crore.

PTI