Here's how the day was at the Markets

The Nifty snapped a 4-day losing streak on Thursday, edging up on bottom fishing by traders on beaten down stocks even as major indices came off from their intra-day highs. The Parliament adjourned sine die without transacting any business during the monsoon session, creating further discomfort in the minds of longer-term investors.

The Rupee continued to be a worry for some parts of the market, breaching the 65 level versus the Dollar but it did bring cheer to export-oriented pharma companies which jumped in trade.

Meanwhile, the Nifty rose a modest 6 points close at 8,356 as bears ceded some space to the bulls. The Index hit an intra-day high of 8,427 points in early deals and all efforts to break shackles were met with supplies at higher levels.

The Nifty's Advance-Decline ratio was 28/22. Tata Power, Lupin, M&M, Cipla and Infosys were the top five gainers on the Index while Vedanta, Tata Steel, Hindalco, NMDC and BHEL slipped to the bottom five slots on the Index, where Infosys was the most traded counter with 565 crore rupees worth of stock changing hands.

Adani Power gained sharply after the NSE said it would enter the Nifty from Sept 28 in place of NMDC, which fell with equal force.

Bulls could not withstand the selling pressure in the broader market. Major indices such as CNX 100, CNX 200, CNX Midcap, CNX Small Cap and CNX 500 closed with losses ranging between 0.1-1.6 percent.

However, the Bank Nifty managed to end at the high point of the day, up 116 points to 18,175. The trend in other sectoral indices was mixed. The CNX Pharma, CNX PSU Bank and CNX Auto Indexes posted modest gains while CNX FMCG, CNX IT and CNX Metal Indexes remained under bear control.

On the Bombay Stock Exchange, the Sensex inched up 37 points to close at 27,549 points. M&M, Axis Bank, Coal India and HDFC Bank gained ground on the Index while Bharti Airtel, GAIL, Wipro and RIL shed some weight. The Advance-Decline Ratio stood at a negative 16/14 on the Sensex on which Tata Motors was the top traded counter worth 72 crore rupees.

Bears were in full control in the wider market for the fifth day in a row with just 1,026 stocks gaining ground versus 1,822 fell below Wednesday's closing prices.

The trend was flat to weak in the derivatives space with Nifty Futures closing at 8,404, up 39 points. Metals, Realty, Telecom and Power sectors posted losses along with rise in open interest. Sectors exhibiting gains were fertilisers, Pharma and Capital goods. The Advance-Decline Ratio was evenly matched at 80:81 in the futures and Options market.

Strong earnings were reported by ONGC, Indian Oil, PC Jeweller and Ajanta Pharma. Dalmia Bharat, NIIT Technologies and Sandesh hit fresh highs on the NSE and Symphony, Kewal Kiran Clothing and DCM Shriram made it to the top volume buzzers list on the exchange.

Image credit: Indiatimes