Robust earnings lift Nifty by 20 points

Jul 21 2014, 21:03 IST
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Notable gainers include IndusIndBk 3.21 per cent, Asian Paint 2.27 per cent and Grasim 2.12 per cent.(Reuters) Notable gainers include IndusIndBk 3.21 per cent, Asian Paint 2.27 per cent and Grasim 2.12 per cent.(Reuters)
SummarySelling in counters of PSU banks, infotech, infra, metal, realty and shares from mid-cap companies capped the market from gaining further.

Robust quarterly earnings in key index heavyweights lifted market sentiment, as the benchmark Nifty closed higher by 20 points at the National Stock Exchange (NSE) here today.

Good buying in FMCG counters supported by energy major Reliance rallied more than two per cent against the backdrop of a 13.7 per cent profit jump in Q1 results last Saturday and key private lender HDFC gaining nearly 3 per cent after it posted good profits in its earnings consolidated otherwise range-bound market momentum bridled with profit-booking.

Selling in counters of PSU banks, infotech, infra, metal, realty and shares from mid-cap companies capped the market from gaining further.

Continued foreign capital inflows also boosted the market sentiment with foreign portfolio investors (FPIs) bought shares worth a net Rs 574.47 crore last Friday as per provisional data from stock exchanges.

The broadbased 50-issue CNX Nifty traded between a high of 7,722.10 points and low of 7,674.00 points before closing at 7,684.20 points, a gain of 20.30 points, or 0.26 per cent, from its previous close.

Notable gainers include IndusIndBk 3.21 per cent, Asian Paint 2.27 per cent and Grasim 2.12 per cent.

However, DLF lost 2.81 per cent, IDFC 1.98 per cent, TataPower 1.89 per cent, GAIL 1.63 percent and Infy 1.56 per cent.

Turnover in the cash segment dropped to 14,273.80 crore from Rs 16,084.09 crore yesterday. A total of 7,228.96 lakh shares changed hands in 62,63,790 trades, while total market capitalisation stood at Rs 88,49,930 crore.

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