Nifty rises in range-bound trade, gains 27 pts

Written by Press Trust of India | Mumbai | Updated: Feb 8 2014, 04:31am hrs
NiftyFIIs bought shares worth Rs 10.75 crore yesterday, as per figures issued by stock exchanges.
Market moved up further in a range- bound trade amid volatility, as value buying in metals, pharma, auto and bank counters lifted the Nifty to close at one-week high, gaining another 27 points.

Firm global cues and the reversal of FII's net sellers to buyers encouraged the market sentiment, while investors were treading cautious over government's advance economic growth estimates for 2013/14 coupled with US job results due later today.

FIIs bought shares worth Rs 10.75 crore yesterday, as per figures issued by stock exchanges.

The range-bound market also witnessed profit-booking in key index heavy-weights of IT and FMCG counters which capped the gains at the National Stock Exchange today.

Index heavyweight Tata Steel and JP Associates surged by more than 6 pct and were the highlight of the today's trade, While ITC fell 0.34 pct on profit-booking.

Shares of mid-cap and small-cap companies also supported the bourses.

They resumed higher on firm Asian cues and continued to trade positive amid volatility during morning trade.

The 50-share index traded between a high of 6,079.95 and a low of 6,030.90 before closing at 6,063.20, up 26.90 points, or 0.45 per cent, from its previous close.

Major gainers were Tata Steel, JP Associates, Ambuja Cem, IDFC, Bank of Baroda, SSLT, ACC, SunPharma, Ultracemco and Axis Bank.

While Hindunilvr, TCS, Wipro, BHEL and HCL Tech witnessed profit-booking.

Turnover in the cash segment declined to Rs 10,482.42 crore from Rs 11,483.24 crore yesterday. A total of 5,465.95 lakh shares changed hands in 51,03,863 trades, while the market capitalisation stood at Rs 65,93,682 crore.