The market ushered the New Year on a positive note helped by an across-the-board buying amid positive European cues, as the benchmark CNX-Nifty ended higher by 31.15 points on the NSE today.
Though trading commenced, at a new time 0900 hrs, on a weaker note, the market rebounded quickly and traded in green throughout the session. However, profit-taking at higher levels capped further gains.
The session was supported by good buying from auto and cement counters which reported encouraging sales numbers.
Traders and investors are bullish about the market as long as the key index trades above the 5,200-level. Coming seasons will decide the further rally, marketmen said.
The 50-share Nifty opened at 5,200.90 and hit a high of 5,238.45 and a low 5,167.10 before closing at 5,232.20, a rise of 31.15 points, or 0.60 per cent, over its last close.
From the Nifty pack, ACC spurted 4.72 per cent, JP Associates 4.70 per cent, M&M 4.53 per cent, Tata Motors 4.41 per cent and Reliance Capital 3.62 per cent.
However, NTPC fell 1.61 per cent, Reliance 1.38 per cent and Bharti Airtel 1.38 per cent.
Turnover in cash slipped to Rs 14,979.55 crore from Rs 15,149.24 crore on Thursday. A total of 9,033.31 lakh shares changed hands in 63,99,108 trades. The market capitalisation was at Rs 57,70,586 crore.