The strong fund action continued to fuel the rally in the domestic bourses,sidestepping the macro concerns,as the benchmark S&P CNX-Nifty closed above the 5,700-mark at the National Stock Exchange (NSE) today on the back of healthy gains. The 50-share index touched a high of 5,770.35 before closing at 5,736.35,up 49.10 points,or 0.86 per cent,from its last close. Ignoring a brief choppiness in the opening trade,the market gathered momentum as the day progressed. However,the market encountered volatility towards the final hours of trade and witnessed selling in select financial and capital goods,thus erasing some gains. IT,financials,FMCG,oil & gas,infra and steel counters were among the gainers. "The current strong inflow of foreign funds shows their (FIIs) confidence in India,which is clocking a healthy 8-plus growth rate," traders said. "It seems inflation,interest rate hike,market volatility and other macro concerns are not impacting the financial markets," they added. Reliance Communications stock,Sesa Goa stock,BPCL,Maruti,Dr Reddy's,Axis Bank,DLF,Bharati Airtel,Sterlite Industries and Tata Power were the top gainers from the Nifty pack. However,IDFC,Grasim,BHEL and Reliance Capital registered losses. Total turnover in cash segment rose to Rs 13,337 crore from Rs 12,421 crore yesterday. A total of 6,966.21 lakh shares changed hands in 59,87,136 trades. The market capitalisation stood at Rs 65,86,169 crore.
