MUMBAI: The benchmark Nifty on Monday managed to extend its advance to the eighth consecutive session, driven by a late recovery and on the back of higher Asian cues.
European stocks erased early losses to trade higher as investors’ focus returned to the US economy and tax reforms at the start of a week packed with potential market catalysts. Asian shares ended lower, weighed down by weakness in Chinese and South Korean markets.
The NSE Nifty opened lower at 10,361.05 and moved in a range of 10,407.15 and 10,340.20 before closing mildly up by 9.85 points, or 0.09 per cent, at 10,399.55 — its highest closing level since November 6.
It saw an intra-day movement of 66.95 points.
The broader markets outperformed, with the Nifty small cap and mid-cap indices rising 0.51 per cent and 0.61 per cent, respectively.
Sector-wise, media rose by 2.19 per cent, followed by realty, infrastructure and PSU bank. However, both metal and FMCG fell.
Major index gainers were NTPC, Axis Bank, Zee, ONGC, InfraTel, SBI, UPL and Kotak Bank. Losers included Hindpetro, Infosys, Adani Ports and Tata Motors.
The market breadth, indicating the overall health, was in favour of gainers. On the NSE, 1,021 shares advanced and 727 declined while 82 remained unchanged.
Total securities that hit their price bands were 211.
Turnover in the cash segment fell to Rs 27,083.79 crore, from Rs 28,832.25 crore last Friday.
A total of 14,802.45 lakh shares changed hands in 99,92,729 trades. The market capitalisation of listed firms on the NSE stood at Rs 1,45,26,393.81 crore.