Nifty ends with modest gains in narrow trade

Jul 17 2014, 19:16 IST
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The market managed to extend its gains in a narrow band trade as buying in broader market helped the benchmark index to end modestly higher by 16 points at the National Stock Exchange (NSE) here today. Reuters The market managed to extend its gains in a narrow band trade as buying in broader market helped the benchmark index to end modestly higher by 16 points at the National Stock Exchange (NSE) here today. Reuters
SummaryThe market managed to extend its gains in a narrow band trade as buying in broader market helped the benchmark index to end modestly higher by 16 points...

The market managed to extend its gains in a narrow band trade as buying in broader market helped the benchmark index to end modestly higher by 16 points at the National Stock Exchange (NSE) here today.

The market marked by caution with range-bound momentum after the successive two-session heavy gains with some investors went for profit booking at higher-levels.

The broader market saw sustained buying interest staging a better rally than the key-indices, though profit booking in auto and realty counters, while some private financials capped gains.

Metals, energy, FMCG, infra and pharma counters witnessed good buying interest, while shares of mid-cap and small cap companies surged by 1.21 per cent and 1.49 per cent each.

Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 621.68 crore yesterday as per provisional data from stock exchanges.

The broadbased 50-issue CNX Nifty hovered between a high of 7,655.65 points and low of 7,612.70 points before finishing at 7,640.45 points, a gain of 16.05 points, or 0.21 per cent, from its previous close.

Hindalco gained 3.48 per cent, Grasim 3.47 gained per cent, Tata Power surged 3.43 per cent, Kotak Bank rose by 3.37 per cent and UltraCemCo spiked by 3.17 per cent.

M&M lost 3.16 per cent, IDFC fell by 2.36 per cent, Bajaj- Auto dipped by 2.31 per cent, DLF by slid by 1.44 per cent and GAIL lost 0.85 per cent.

Turnover in the cash segment declined to 16,753.25 crore from Rs 17,702.16 crore yesterday. A total of 8,986.87 lakh shares changed hands in 69,85,415 trades, while total market capitalisation stood at Rs 88,31,785 crore.

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