Nifty Ends Above 9,800 For First Time

Benchmark Nifty rose for the third straight day to close at a fresh lifetime high of 9.816.10 following sustained buying in bank, energy, media, infra and metal counters on the back of higher global cues.

Overseas, European stocks were trading higher led by gains in energy shares and miners. Asian stocks were mixed as investors looked ahead to US Federal Reserve Chair Janet Yellen's comments.

The US stock market remained resilient yesterday (11 July), with the Nasdaq extending its winning streak to a third session as political developments dominated the news cycle.

The NSE 50-share Nifty index opened above the 9,800-mark at 9,807.30 and moved in a range of 9,824.95 and 9,787.70 before ending at 9,816.10, up 30.05 points, or 0.31 percent.

It saw an intra-day movement of about 37.25 points.

Broader markets bounced back sharply from yesterday's (11 July) losses. The Nifty Midcap and Smallcap indices rose by 0.69 per cent and 0.95 per cent, respectively.

Sector-wise, PSU Bank rose 1.34 per cent, Energy 1.30 per cent, Media (0.65 per cent), Infra (0.54 per cent), Bank (0.47 per cent), Private Bank (0.40 per cent), Finance Service (0.39 per cent) and (Metal 0.38 per cent).

Nifty IT was the only loser among sectoral indices, down 0.27 per cent ahead of June quarter earnings.

Major index gainers were ACC (3.34 per cent), Bharti Infratel (2.55 per cent), Ambuja Cement (2.29 per cent), Indiabulls Housing Finance (2.08 per cent), HUL (2.28 per cent), ONGC (1.81 per cent), ICICI Bank (1.61 per cent) and SBI (1.50 per cent).

Losers included TCS 1.47 per cent, M&M 0.97 per cent, Hero MotoCorp 0.79 per cent, Aurobindo Pharma 0.75 per cent, ITC 0.47 per cent, Coal India 0.39 per cent and Dr Reddy's 0.31 per cent.

A total of 980 scrips advanced, 705 declined while 89 remained unchanged. Total securities that hit their price bands were 112.

Turnover in the cash segment fell to 25,076.90 crore from Rs 26,457.91 crore yesterday (11 July).

A total of 15,050.39 lakh shares changed hands in 9,414,760 trades. The market capitalisation of listed firms on the NSE stood at Rs 12,850,816.19 crore.

(PTI)