NSE Nifty rises 12 pts on good showing by FMCG, healthcare stocks

Written by PTI | Mumbai | Updated: Aug 14 2014, 02:31am hrs
Despite weak macroeconomic woes, robust buying in key frontline heavyweights helped benchmark Nifty to end higher by a modest 13 points on the National Stock Exchange (NSE) today.

Sharp rally in defensive stocks like FMCG, healthcare and technology, led the recovery.

However, financial, infra, metal, auto witnessed huge unwinding while mid-cap and small-cap stocks too came under intense selling pressure, falling more than three per cent.

After staging impressive rallies in last two sessions, bourses opened on a flat note, impacted by a rise in retail inflation and slowing industrial production growth. It mostly traded range bound before rebounding in fag-end trade.

On the macro front, Index of Industrial Production (IIP) moderated to 3.4 per cent in June from 5 per cent recorded in the previous month, while the retail inflation rose marginally to 7.96 per cent in July against 7.46 per cent in June.

The broader 50-issue CNX Nifty fluctuated between a high of 7,757.10 and a low of 7,695.70 before ending at 7,757.10, a modest rise of 12.50 points, or 0.16 per cent, over last close.

Other Asian markets too ended mostly in green despite overnight selling in US stocks as well as geopolitical worries.

Outperforming stocks included ITC, HDFC, TCS, Infosys, Sun Pharma, Hindustan Unilever, HCL Tech, Reliance, Wipro, HDFC Bank, Sesa Sterlite, BPCL, M&M and Bajaj Auto.

However, PSU engineering behemoth BHEL topped the selling list, reacting to dismal Q1 earnings, plunging nearly 7 per cent. Other key losers were Bank of Baroda, DLF, Coal India, Tata power, Hindalco, Axis Bank, SBIN and Grasim.

Turnover in the cash segment spiked to Rs 17,342.02 crore from Rs 13,315.89 crore yesterday. A total of 9,938.55 lakh shares changed hands in 76,00,678 trades, while total market capitalisation stood at Rs 87,63,627 crore.