Nifty ends 14 points higher in volatile trade

Written by Press Trust of India | Mumbai | Updated: Feb 26 2014, 05:15am hrs
NiftyThe market witnessed range-bound trade amid volatile momentum. Reuters
The market witnessed range-bound trade amid volatile momentum, as buying in key infotech, FMCG and auto counters supported the benchmark, to end at the psychologically crucial 6,200-mark at the National Stock Exchange (NSE) here today.

Volatility was the order of the day ahead of the expiry of February derivatives contracts on Wednesday, though some short-covering and positiveness over FII buying as well as the overnight Wall Street surge, helped sentiment.

The optimism led key infotech major Wipro to rally by 3.2 per cent, Infosys by nearly one per cent and TCS by 0.51 per cent.

Also, Ambuja Cement surged to 2.53 per cent and Bajaj Auto by 2.17 per cent.

However, NMDC dipped by 2.73 per cent and Tata Steel was down by 2.34 per cent, while Tata Power was down by 2.29 per cent due to profit booking.

Meanwhile, FIIs bought shares worth net Rs 266.87 crore yesterday as per provisional data from stock exchanges.

The market opened higher on firm Asian cues, as momentum was volatile ahead of monthly expiry. Key indices hit a fresh one-month high before trimming gains. It fluctuated during afternoon trades, before ending with modest gains.

The 50-share Nifty traded between a high of 6,216.85 and a low of 6,176.60, before finishing at 6,200.05, showing a gain of 13.95 points, or 0.23 per cent.

Other major gainers were BPCL, BHEL, CIPLA, Bank of Baroda, IDFC, Bharti Airtel and Hindalco, while losers include Sesa Sterlite, Coal India, JP Associates, GAIL, DLF and Jindal Steel.

Turnover in the cash segment climbed to Rs 9,329.18 crore from Rs 8,411.56 crore yesterday. A total of 5,002.67 lakh shares changed hands in 51,56,783 trades. Market capitalisation stood at Rs 66,66,314 crore.