Nifty ends losing streak, rises to 11,000

The NSE benchmark Nifty ended the volatile session with decent gains as bargain hunting emerged after breaking a five-day losing streak, rebounded by 100 points led by buying mainly in pharma, banking, financial service, FMCG, auto and IT sectors.

The key indices saw intense volatility on lower Asian cues, while sentiment pressured by weak rupee opening, rising crude, escalating US-China trade tensions and US Federal Reserve meets due tomorrow.

However, the market recouped losses on bouts of value-buying and bargain hunting in recent losers, the choppy momentum also helped by short-covering in view of September derivative expiry due on Thursday.

Overseas, European stocks were trading higher, supported by strong earnings. Asian stocks ended mixed.

Back home, selling was seen in reality, energy and infra counters. The broader mid-cap and small-cap shares witnessed a divergent trend with midcap gaining while smallcap ending with losses.

The Nifty 50 index rose 100.05 points, or 0.91 percent, to end at 11,067.45. The index rose 113.20 points, at the day's high of 11,080.60. The index fell 84.55 points, the day's low of 10,882.85.

It saw an intra-day movement of 197.75 points.

Among the sectoral indices, pharma rose by 2.51 percent, financial service 1.90 percent, PSU bank 1.62 percent, bank 1.44 percent, private bank 1.36 percent, FMCG 1.26 percent, auto 0.99 percent, IT 0.37 percent and media 0.02 percent.

However, realty, energy, and Infra fell by 1.72, 0.31 and 0.25 percent, respectively.

Major index gainers were HDFC, Kotak Bank, SBIN, Axis Bank, Sun Pharma, Maruti, HUL, Lupin, SBIN, and Cipla.

Losers included Indiabulls Housing Finance, InfraTel, GAIL, Yes Bank, PowerGrid, Coal India, HindPetro, Adaniports, and Wipro.

The market breadth, indicating its overall health, remained negative. On the NSE, 664 stocks advanced, 1,186 declined and 69 remained unchanged.

Total securities that hit their price bands were 324.

Turnover in the cash segment rose to Rs 45,803.59 crore from Rs 42,195.76 crore as on Monday.

A total of 20,159.76 lakh shares changed hands in 1,70,78,205 trades. The market capitalization of listed firms on the NSE stood at Rs 1,46,26,565.69 crore.