Nifty returns to above 11,500 points

The stock market continued to surge on the September 2. The market advanced for the second day in a row after falling on August 31. There was strong volatility in the market. This move helped the Nifty to rise again above 11,500 points. The next pressure point is at 11,800 points.

The Sensex was up 185 points on the day and the Nifty was up 65 points. The Nifty closed at 11,535 points. The Nifty was down over 11,430.40 and climbed more than 100 points during trading. The Sensex closed at 39,086 points. The Sensex had lost 38,736.22 points in the morning trade.

Thirty-seven of Nifty stocks rose while 13 stocks declined. The top five gainers were Zee Limited, Mahindra & Mahindra, Tata Motors, Infratel and Adani Ports. Zee Ltd. rose 7.46 per cent. Mahindra & Mahindra gained over 6 per cent and Tata Motors gained over 5 per cent. Shares of Infratel, Adani Ports and Powergrid gained over 3 per cent.

Automobile and IT metal stocks were the top performers on the day. The Nifty Auto Index was up 1.15 per cent. The Nifty Metal Index gained 1.79 per cent. SAIL advanced about 50 per cent.

Bajaj Auto, Hero Motors, Asian Paints, HDFC and Nestle India were the biggest losers in the Nifty.