Nifty recovers, rises 91 pts to 9,980

Overseas, most European stocks were trading lower as investors continued to keep track of developments in Spain.

Asian stocks followed their US counterparts higher after a slew of data and comments from Federal Reserve officials boosted hopes that the US economy is strong enough to withstand higher interest rates.

Domestic investors also awaited the outcome of today's GST Council meeting.

The Nifty opened higher at 9,908.15 and moved in a range of 9,989.35 and 9,906.60 before ending at 9,979.70, up 91.00 points, or 0.92 per cent, from its last close.

It saw an intra-day movement of about 82.75 points.

On the sectoral front, Metal rose by 3.14 per cent, followed by PSU Bank 2.07 per cent, Energy 1.83 per cent, IT 1.24 per cent, Pharma 0.89 per cent, Auto 0.69 per cent, Bank 0.55 per cent, FMCG 0.48 per cent, Media 0.24 per cent and Realty 0.14 per cent.

Major index gainers were GAIL, Tata Steel, Hindalco, Sun Pharma, Bajaj Finance, HPCL, Vedanta and Eicher Motors.

Losers were Bharti InfraTel, Hero MotoCo, HDFC, Dr Reddy's, IndusInd Bank, Zee, Power Grid, M&M and Cipla.

The broader markets extended their gains as both the Nifty midcap and smallcap indices rose further by 0.90 per cent and 1.34 per cent, respectively.

The market breadth, indicating the overall health of the market was in favour of gainers. On the NSE, 1,175 stocks advanced, 528 declined and 76 stocks remained unchanged.

Total securities that hit their price bands were 169.

Turnover in the cash segment rose to Rs 27,878.08 crore from Rs 25,106.21 crore yesterday.

A total of 13,535.36 lakh shares changed hands in 9,063,272 trades. The market capitalisation of listed firms on the NSE stood at Rs 1,34,41,929.21 crore.