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Nifty snaps 5-day fall, up 20 points

Mumbai, May 22 (PTI) Reversing its five-session fall, the NSE Nifty today recovered by 20 points to end at 10,536.70, helped by mild buying in some of the recently beaten-down stocks.

Market participants remained cautious in view of rising crude oil prices and volatility in rupee.

Resuming slightly lower, the key index Nifty bounced back on good value buying in recently hammered shares of PSU bank, realty, pharma, metal, media and auto. Traders awaited key corporate earning results.

Globally, shares in Europe and Asia were mixed. The US market jumped overnight as investors applauded easing trade tensions between the US and China.

Back home, the 50-share NSE Nifty closed at 10,536.70, up 20 points or 0.19 per cent. During the day, the index hit a high of 10,558.60 and a low of 10,490.55.

Nifty saw an intra-day movement of about 68.05 points.

On the sectoral front, PSU bank climbed by 3.25 per cent followed by media 1.75 per cent, metal 1.77 per cent, pharma 1.70 per cent, auto 1.68 per cent, realty 1.23 per cent, infra 0.28 per cent, financial service 0.26 per cent, bank 0.10 per cent and IT 0.01 per cent.

On the other hand, energy, private bank and FMCG fell by 0.43, 0.30 and 0.28 per cent, respectively.

Major index gainers were Dr Reddy, Bajaj FinServ, SBIN, Tata Motors, Bajaj Auto, Hindalco and SunPharma.

Losers included, IOC, Ultra Chem, InfraTel, IndusInd bank, Asian Paints, ITC, TCS, PowerGrid, Kotak Bank, Tata Motors, Zeel, Cipla, Titan, Tata Steel and Hero MotoCorp

The market breadth remained positive. A total of 1,028 scrips advanced, 762 declined and 70 remained unchanged.

Turnover in the cash segment rose to Rs 30,181.79 crore from Rs 32,483.65 crore as on Monday. A total of 16,214.13 lakh shares changed hands in 1,15,43,479 trades. PTI ARR VHP MKJ

Disclaimer: This story has not been edited by BW staff and is auto-generated from a syndicated feed.


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