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Nifty revisits 8,100 mark on select buying

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Mumbai, Sept 12 (PTI) Equities rebounded today and ended modestly higher after a three-day downtrend as the benchmark Nifty reclaimed the key 8,100 mark on the National Stock Exchange (NSE) on the back of select buying.

Defensive sector stocks led by FMCG and healthcare spearheaded the recovery. Auto, financial along with mid and small-cap stocks also lent support.

However, sustained selling in technology, metal, infra and energy stocks capped gains.

After trading in a narrow range during most part of the day, the key index managed to close above the milestone towards the tail-end. Investors were cautious ahead of release of July industrial output and August CPI data.

The 50-share index erased early losses to end higher by 19.80 points, or 0.24 per cent, at 8,105.50. The Nifty had closed at a new lifetime high at 8,173.90 on Monday before settling a few points lower.

Equities elsewhere in Asia ended mixed amid caution on renewed geopolitical worries following fresh EU sanctions on Russia against the backdrop of next week’s FOMC meet outcome.

ITC, Cipla, HDFC, Lupin, Bharti Airtel, SBI, Maruti, Asian Paints, M&M, Tata Motors, TCS, Hero Moto, Sesa Sterlite and Bank of Baroda were the top index gainers.

The laggards included Hindalco, Cairn, UltraTehc, Tata Power, Power Grid, NTPC, Bhel and HCL-Tech.

Drug major Sun Pharma remained under heavy selling for a second straight day, losing another 2 per cent. Candidates for disinvestment ONGC, Coal India and NHPC also slipped.

Turnover in the cash segment fell to Rs 17,279.12 crore from Rs 17,423.52 crore yesterday. A total of 10,505.40 lakh shares changed hands in 76,88,139 trades, while market capitalisation stood at Rs 94,18,213 crore.

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