Nifty rebounds to end above 8,200-level on strong global cues

Equities rebounded from it three session losing streak spurred by strong global cues as the broader benchmark Nifty to garner a handsome 132.50 points at the National Stock Exchange (NSE) in Mumbai on Thursday.

Higher global cues rekindled the positive sentiments after overnight upbeat US employment data and recovery in crude oil price followed hope over more stimulus measure in eurozone after negative inflation data relieving fear of global growth concerns.

Market witnessed hectic stock-specific value buying in across the counters led by realty, banking and finance, metal FMCG, auto, infra, pharma, energy and IT well supported by shares from Mid-cap and Small-cap companies.

The broader 50-share index opened at 8,191.40 and moved between 8,243.50 and 8,167.30 before closing at 8,234.60, showing a rise of 132.50 points, or 1.64%.

Meanwhile, foreign portfolio investors sold shares worth a net Rs 1,073.18 crores yesterday as per provisional data from stock exchanges.

Stocks from paint industries were in limelight with Asian Paints surging by 6.30 %, while DLF gained 6.05%, Kotak Bank by 5.44%, BPCL by 5.06%, Jindal Steel by 5.02%,Cairn by 4.71%, Tata Motors 3.68%, ICICI Bank 2.75% and ITC 2.50%.

However, Reliance lost 1.43%. Turnover in the cash segment climbed to Rs 17,626.25 crore from Rs 16,358.08 on Thursday. A total of 8,289.75 lakh shares changed hands in 73,20,292 trades and the market capitalisation stood at Rs 95,85,237 crore.