Nifty reclaims 9,900-level; Infosys shines

28 Aug 2017

The NSE benchmark Nifty today extended its gains by another 55.75 points to finish above the key 9,900-level, with index heavyweight Infosys driving the rally following announcement of an overhaul of its board of directors.
Market sentiment also got a boost after geopolitical tensions eased as the government reportedly said that India and China agreed to disengagement at Doklam.
Overseas, European stocks edged lower as investors gear up for the next round of Brexit talks in Europe, while keeping a close eye on the moves in oil. Asian stocks were mixed after US and European central bankers didn't provide fresh policy guidance.
The Nifty opened higher at 9,907.15 and moved in a range of 9,925.75 and 9,882 before ending at 9,912.80, a rise of 55.75 points, or 0.57 per cent from its last close. It saw an intra-day movement of about 43.75 points.
On the sectoral front, barring the Nifty PSU Bank index which slipped 0.10 per cent, all other sectors ended in green.
Media rose (0.86 pct), Infra (0.84 pct), IT (0.84 pct), Pharma (0.82 pct), FMCG (0.81 pct), Pvt.Bank (0.62 pct), Fin Service (0.56 pct), Bank (0.42 pct), Metal (0.36 pct), Realty (0.31 pct) and Energy (0.32 pct).
Major index gainers were Infosys, IOC, NTPC, Yes Bank, SunPharma, HeroMotoCo, Adaniports and AsianPaint.
Losers included Dr Reddy, PowerGrid, Tata Motors, Tata Motors DVR, Tata Steel, Lupin, Maruti and SBIN. The broader markets outperformed the headline indices as the Nifty Midcap and Smallcap indices gained by 1.09 per cent and 1.40 per cent, respectively.
The market breadth, indicating the overall health of the market, was tilted towards the gainers. A total of 1,133 scrips advanced, 547 declined, while 75 remained unchanged. As many as 132 securities hit their price bands.
Turnover in the cash segment fell to Rs 24,239.05 crore from Rs 24,542.74 crore last Thursday. A total of 10,925.89 lakh shares changed hands in 9,540,350 trades. The market capitalisation of listed firms on the NSE stood at Rs 12,984,421.99 crore. (PTI)