Nifty settles above 10,250 mark, global leads run up

Nifty settles above 10,250 mark, global leads run up
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Mumbai: Key stock index Nifty pushed up for second consecutive session on uninterrupted buying, mainly in FMCG, pharma and metal sectors, as global cues ruled firm.

The positive global leads came as a sentiment driver and continued value buying across sectors barring PSU banks and media helped the Nifty end above the 10,250 mark.

The buying momentum was backed by hopes that the ruling Bharatiya Janata Party (BJP) would win the critical state election in Gujarat beginning this weekend.

European markets were trading higher as investors reacted to the latest developments on Brexit negotiations. Asian stocks ended higher following a broad-based rally in US equities.

The NSE Nifty opened higher at 10,198.45 and moved in a range of 10,270.85 and 10,195.25, before ending at 10,265.65, up 98.95 points, or 0.97 per cent. This is its highest closing level since November 29.

It saw an intra-day movement of 75.60 points.

Nifty mid-cap and small-cap indices rose by 0.93 per cent and 0.75 per cent, respectively.

Sector-wise, FMCG rose by 2.36 per cent, followed by pharma 1.54 per cent, metal and private bank.

PSU bank and media indices slipped by 0.83 per cent and 0.34 per cent, respectively.

Major gainers were Hindpetro, ITC, IOC, BPCL, Hindustan Unilever, Sun Pharma, ONGC, Tata Motors and Cipla.

Losers included InfraTel, GAIL, Zee, Reliance, SBI, Hero MotoCorp, Asian Paints, TCS and Dr Reddy’s.

The market breadth, indicating its overall health, was in favour of gainers. On the NSE, 1,069 shares advanced and 692 declined while 64 remained unchanged.

Total securities that hit their price bands were 173.

Turnover in the cash segment rose to Rs 30,835.91 crore, from Rs 27,198.49 crore as on Thursday.

A total of 16,471.98 lakh shares changed hands in 1,06,66,375 trades. The market capitalisation of listed firms on the NSE stood at Rs 1,44,39,802.21 crore.

PTI