Mumbai, August 12: A sharp recovery towards the end led by lower level buying and better IIP data helped the benchmark CNX Nifty trim most of its early losses and end down by only 13.85 points on the NSE today.
Factors like global equity markets, deficient monsoon related worries and negative FII activities are the worrying factors for the market at this juncture, according to the traders.
However, a strong growth in industrial production, which showed a remarkable rise of 7.8 per cent in June against 2.7 per cent in May, can minimise the negative impact of the poor monsoon, they said.
The market exhibited high volatility throughout the session as the benchmark witnessed an intra-day movement of about 114.40 points. The 50-share index opened at 4,473.80 and touched a low of 4,359.40 and a high 4,473.80 before closing at 4,457.50, a modest fall of 13.85 points, or 0.31 per cent, over last close.
From the Nifty pack, Tata Steel declined by 4.19%, TCS 4.11%, Cairn 2.93%, HUL by 2.43% and Tata Motors by 2.41%.
However, Bharati Airtel spurted by 6.03%, Ranbaxy 4.70%, Jindal Steel by 4.02% and BPCL by 3.05%.
Turnover in the cash rose to Rs 17,638.66 crore from Rs 15,992.79 crore yesterday. A total of 8,754.25 lakh shares changed hands in 71,16,244 trades. The market capitalisation stood at Rs 46,73,114 crore.
—Agencies