Mumbai, Jul 4 (PTI) Market benchmark Nifty gained for sixth session in a row to mark over fresh 10 month highs by 42.35 points to finish at 8,370.70 following buying in key frontline shares on the back of good monsoon progress and higher global cues.
Shrinking domestic monsoon deficit reports, strong rupee and Higher Asian as well as European opening ruled today's range-bound trading momentum as key indices rallied to reach a high of 8,398.45 intra-day, however some gains were erased from mid-afternoon amid caution witnessed in European trading momentum.
Monsoon deficit substantially shrank to 6 per cent from previous 18 per cent in the first week of June, while shares of Tata Motors rallied after the company reported an 8 per cent growth in sales in June.
Elsewhere, China led gains across Asian stock markets on Monday as investors bet that global central banks would loosen policies to encourage economic growth. However, European market witnessed mixed trend after initial gains.
The 50-share index opened higher at 8,376.75 and moved between 8,398.45 and 8,364.70 before ending at 8.370.70, showing a gain of 42.35 points, or 0.51 per cent, the level not seen since August 20, 2015.
Foreign portfolio investors (FPIs) sold shares worth net Rs 187.51 crore last Friday as per provisional data from the stock exchanges.
Among the counters, PSU Bank climbed 2.53 per cent, followed by Realty (2.31 per cent), Metal (1.56 per cent), Infra (1.24 per cent), Media (1.24 per cent), Energy (1.19 per cent), Commodities (0.86 per cent), IT (0.78 per cent), Auto (0.70 per cent), Financials (0.70 per cent) Bank (0.62 per cent), Pharma (0.61 per cent) and Pvt Bank (0.54 per cent).
The midcap index surged 1.20 per cent, while smallcap gained 1.55 per cent.
Major gainers were BHEL (4.54 per cent), Adani Ports (4.38 per cent), Tata Motors (4.13 per cent), ICICI Bank (3.25 per cent), ONGC (3.13 per cent).
Key losers included ITC (2.95 per cent), Bosch (1.92 per cent), Dr Reddy (1.41 per cent), Indusind bank (1.40 per cent), Grasim (1.36 per cent).
A total of 1071 scrips gained, 521 declined while 85 were unchanged.
Turnover in cash segment fell to Rs 17,749.99 crore from Rs 19,138.24 crore yesterday.
A total of 11,952.97 lakh shares changed hands in 73,43,133 trades. The market capitalisation of NSE stood at Rs 102,46,512 crore.
Shrinking domestic monsoon deficit reports, strong rupee and Higher Asian as well as European opening ruled today's range-bound trading momentum as key indices rallied to reach a high of 8,398.45 intra-day, however some gains were erased from mid-afternoon amid caution witnessed in European trading momentum.
Monsoon deficit substantially shrank to 6 per cent from previous 18 per cent in the first week of June, while shares of Tata Motors rallied after the company reported an 8 per cent growth in sales in June.
Elsewhere, China led gains across Asian stock markets on Monday as investors bet that global central banks would loosen policies to encourage economic growth. However, European market witnessed mixed trend after initial gains.
The 50-share index opened higher at 8,376.75 and moved between 8,398.45 and 8,364.70 before ending at 8.370.70, showing a gain of 42.35 points, or 0.51 per cent, the level not seen since August 20, 2015.
Foreign portfolio investors (FPIs) sold shares worth net Rs 187.51 crore last Friday as per provisional data from the stock exchanges.
Among the counters, PSU Bank climbed 2.53 per cent, followed by Realty (2.31 per cent), Metal (1.56 per cent), Infra (1.24 per cent), Media (1.24 per cent), Energy (1.19 per cent), Commodities (0.86 per cent), IT (0.78 per cent), Auto (0.70 per cent), Financials (0.70 per cent) Bank (0.62 per cent), Pharma (0.61 per cent) and Pvt Bank (0.54 per cent).
The midcap index surged 1.20 per cent, while smallcap gained 1.55 per cent.
Major gainers were BHEL (4.54 per cent), Adani Ports (4.38 per cent), Tata Motors (4.13 per cent), ICICI Bank (3.25 per cent), ONGC (3.13 per cent).
Key losers included ITC (2.95 per cent), Bosch (1.92 per cent), Dr Reddy (1.41 per cent), Indusind bank (1.40 per cent), Grasim (1.36 per cent).
A total of 1071 scrips gained, 521 declined while 85 were unchanged.
Turnover in cash segment fell to Rs 17,749.99 crore from Rs 19,138.24 crore yesterday.
A total of 11,952.97 lakh shares changed hands in 73,43,133 trades. The market capitalisation of NSE stood at Rs 102,46,512 crore.
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