Nifty snaps 4-day fall, up 30 points to 10,124 mark ahead of US Fed meet; IT stocks rise 1.51%

Mumbai: NSE benchmark Nifty rose 30 points to end at 10,124.35 on Tuesday following value buying in IT, infra, pharma and auto sectors. Trading was volatile as investors remained cautious ahead of US Federal Reserve’s two-day policy meeting beginning later in the day. Nifty opened slightly lower on weak Asian cues but immediately recovered from early lows to trade higher within a tight range. However, selling in energy, realty, metal and banking stocks capped the rise. On the global front, Asian markets closed mixed, with the Japan’s Nikkei falling 0.5 percent while China’s Shanghai Composite was up 0.3 percent and Hang Seng gained 0.11 percent. [caption id=“attachment_4398343” align=“alignleft” width=“380”] Reuters.[/caption] European markets were trading flat after a positive start as investors focused on earnings ahead of the Federal Reserve meeting. Back home, the Nifty rose by 30.10 points or 0.30 percent to end at 10,124.35, before hovering in a range of 10,155.65 and 10,049.10. It saw an intra-day movement of about 106.55 points. Sector-wise, IT rose by 1.51 percent, Infra 0.84 percent, Pharma 0.77 percent, Auto 0.57 percent, FMCG 0.42 percent, Media 0.37 percent and PSU Bank 0.34 percent. On the other hand, Energy fell by 0.60 percent, followed by Realty 0.41 percent, Private Bank 0.39 percent, Metal 0.32 percent and Bank 0.32 percent. Major index gainers were Bharti InfraTel, Tech Mahindra, Eicher Motors, Tata Steel, Sun Pharma, Bosch and Bajaj Finance. The losers were Vedanta, IOC, ONGC, BPCL, Cipla, GAIL, Coal India, ICICI Bank and Ultratech Cement. The market breadth, indicating its overall health, remained negative as a total of 691 scrips advanced and 1,124 declined, while 51 remained unchanged. Two stocks hit their price bands. The cash segment turnover eased to Rs 27,610.57 crore from Rs 27,705.62 crore as on Monday. A total of 14,607.87 lakh shares changed hands in 96,60,216 trades. The market capitalisation of listed firms on the NSE stood at Rs 1,39,51,117.53 crore.