Nifty gains 36 points, recovers morning losses

MUMBAI (Makemystocks): Indian stock markets managed to pull back from sessions low and ended firm on the back of strong European markets and sustained buying in the Metal, Capital goods and Auto stocks.

Manufacturing PMI for January surged to an eight month peak. Auto sales for January have also been good for most of the listed companies.

The S&P CNX Nifty today gave gap down open and remained weak in first half session but recouped on strong European markets open and touched the high of 5245. Nifty settled at 5236 up by 36 points.

The European markets are trading strong. The FTSE index is up by 81 points, DAX index is up by 127 points and CAC index is up by 50 points.

The market breadth, indicating the health of the market was positive. On NSE, 1032 shares advanced while 416 shares declined. Total of 68 shares remained unchanged.

Out of 50-share S&P CNX Nifty pack, 32 scrips advanced while 17 scrips declined. Tata Power was up by 6.54%, Jindal Steel was up by 6.29% and Tata Steel was up by 5.12% were the top gainers from the Nifty pack.

Coal India was down by 2.95%, BPCL was down by 2.07% and ICICI Bank was down by 1.46% were the top losers from the Nifty pack.

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