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Nifty snaps 4-day losing streak, up 115 pts

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Mumbai: The CNX Nifty snapped its last 4-day losing streak, recovering 115 points to close at 8,433.65 on renewed buying from operators on expectation of rate cut by Reserve Bank Of India (RBI) in its meeting next week. Shares of CNX Consumption, Auto, Pharma, Banking, IT and FMCG sectors shot up on good buying enquiries.

The CNX Nifty resumed higher at 8,327.10 and hovered in a range of 8,443.90 and 8,305.70 before concluding at 8,433.65, showing a gain of 114.65 points or 1.38 per cent. The CNX Nifty had dropped by 139.95 points of 1.65 per cent in the previous four days. Major CNX Nifty gainers were Bharti Airtel (5.61 pct), Lupin (5.07 pct), M&M (5.00 pct), BPCL (3.97 pct) and Grasim (3.67 pct). However, Hidnalco dropped by 1.79 pct, NMDC 1.75 pct, PNB 1.66 pct, Tata Motors 0.56 pct and BHEL 0.42 pct. Turnover in the cash segment rose  to Rs 43,621.27 crs from Rs 22,431.71 yesterday. Total of 11,724.27 lakh shares changed hands in 1,09,46,057 trades and the total market capitalisation of the NSE stood at Rs 1,00,20,665 crore.