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Nifty regains 11,000-level as crude oil slides

Mumbai, Jul 17 (PTI) The broader Nifty reclaimed the 11,000-level to finish at 11,008.05 today, propelled by a rally in PSU Bank, Metal, Energy, Pharma, Media and Banking counters following sharp fall in global crude oil, while finance ministry report on capital infusion state-owned banks lifted the sentiment.

The overnight steep fall in crude oil prices lifted stocks and sentiment bolstered after report of finance ministry is likely to infuse about Rs 10,000 crore within a few days in some state-owned lenders including PNB, Corporation Bank and Central Bank of India, to help them meet regulatory capital requirement.

The 50-share NSE Nifty reclaimed the 11,000-level at 11,008.05, gaining 71.20 points, or 0.65 per cent, it shuttled between 11,018.50 and 10,925.60 in day trade.

The broader midcap and smallcap company shares outperformed the key indices.

Overseas, most Asian markets declined as energy stock came under selling pressure amid overnight fall in crude oil prices.

European shares rose ahead of Federal Reserve Chairman Jerome Powell's first congressional testimony.

Sector-wise, PSU Bank rose by 3.86 per cent, followed by Metal 1.72 per cent, Energy 1.66 per cent, Pharma 1.59 per cent, Media 1.43 per cent, Bank 1.23 per cent, Auto 1.20 per cent, Pvt Bank 1.17 per cent, Realty 1.03 per cent, Finance service 0.90 per cent and IT 0.01 per cent, while FMCG fell by 1.01 per cent.

Major index gainers were Hind Petro, IOC, Hindalco, Axis Bank and SBI.

Index losers included HUL, Tech Mahindra, Bharti Artl, Dr Reddy and Eicher Motors.

A total of 1,056 scrips advanced, 761 declined, while 82 remained unchanged, reflecting a positive undertone in the market.

Total securities that hit their price bands were 239.

Turnover in the cash segment rose to Rs 28,288.38 crore from Rs 27,765.97 crore yesterday.

A total of 15,729.50 lakh shares changed hands in 10,790,611 trades. The market capitalisation of listed firms on the NSE stood at Rs 1,45,52,448 crore. PTI RD


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