Nifty fails to hold 10,350-level, up 81 pts

The NSE Nifty continued its rally for the 2nd straight session but failed to hold on 10,350- level, up 81 points to 10,333 after exit polls indicated that the BJP will win Gujarat and Himachal Pradesh assembly polls.

A sustained buying was witnessed in metal, realty, auto, private banks and financial service sectors.

Market opened on a strong note on exit polls result and strong rupee sentiments along with FII turnaround too bolstered the momentum. Barring PSU bank rest all the sectoral indices traded in green.

Overseas, global markets were under pressure on concerns about the future of tax reform in the US.

Asian stocks ended lower, with the Hong Kong's Hang Seng falling over one per cent while European markets were trading mildy lower.

The NSE Nifty opened higher at 10,345.65 and moved in a range of 10,373.10 and 10,319.65, before ending at 10,333.25, up 81.15 points, or 0.79 per cent from last close.

It saw an intra-day movement of about 53.45 points.

On the sectoral front, metal rose by 2.66 per cent, followed by realty 1.68 per cent, auto 1.35 per cent, pvt bank 1.16 per cent, bank 1.08 per cent, financial service 1.04 per cent, infra 0.53 per cent, pharma 0.32 per cent and FMCG 0.18 per cent.

Major index gainers were Vedanta, Yes Bank, Mahindra and Mahindra, Hindalco, Coal India, Eicher Motors, Dr Reddy and Bajaj Finance.

Losers included Tech Mahindra, Cipla, Bosch Ltd, ONGC, Powergrid, InfraTel, Bharti Airtel, TCS and SBIN.

The market breadth, indicating its overall health, was in favour of gainers. On the NSE, 1,170 stocks advanced, 576 declined and 61 remained unchanged.

Total securities that hit their price bands were 150.

Turnover in the cash segment rose to Rs 32,230.08 crore from Rs 25,347.58 crore as on Thursday.

A total of 13,454.82 lakh shares changed hands in 11,491,596 trades. The market capitalisation of listed firms on the NSE stood at Rs 1,44,52,138.25 crore.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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