NSE Nifty posts modest gain in choppy trade on Infosys Ltd result eve

Written by PTI | Mumbai | Updated: Oct 11 2013, 04:11am hrs
The benchmark NSE Nifty today posted modest gains in a choppy session ahead of the second-quarter results of Infosys Ltd which kicks off the earnings season.

Auto, metal, PSU bank, realty and IT shares saw good buying support from investors.

Brokers said investors turned cautious and parked their funds in less risky and fundamentally strong stocks ahead of the September quarter earnings season, starting tomorrow with Infosys results.

The 50-issue NSE Nifty resumed lower at 6,001.05 and hovered in a range of 6,033.95 and 5,979.80 before ending at 6,020.95, showing a marginal gain of 13.50 points, or 0.22 per cent, from its last close.

Investors are also awaiting the industrial production data for August scheduled to release tomorrow.

Asian stock markets ended mixed, with key indices in Singapore and Japan rising, while those in China, Hong Kong and South Korea falling.

Top five gainers from the Nifty pack were shares of Tata Motors 4.93 pct, Ranbaxy Laboratories Ltd 3.39 pct, NMDC Ltd 2.95 pct, Lupin 2.52 pct and Grasim 2.12 pct. Top five laggards were Tata Power 2.45 pct, Hindalco Industries Ltd 2.13 pct, Kotak Mahindra Bank Ltd 1.82 pct, Hindustan Unilever (HUL) 1.45 pct and HDFC Bank 1.25 pct.

Turnover in the cash segment dropped to Rs 10,485.10 crore from 11,638.84 crore yesterday. A total of 5,601.02 lakh shares changed hands in 51,22,496 trades. The market capitalisation stood at Rs 64,62,991 crore.