Mumbai: The flagship benchmark Nifty reclaimed the psychological 8,500 barrier, surging by a hefty 111 points - its biggest single-day gain in over one-month driven by a gush of liquity with new F&O series making a positive start.
Growing optimism over improving macro factors and renewed push for broad-based reform oriented measures after the cabinet gave approval to incorporation of changes in the GST bill, mainly steered the spectacular rally.
Moreover, reports that retirement fund body (EPFO) will start investing in equity markets next week and better than expected earnings outcome, helped too.
Financial stocks, particularly PSU banking stocks witnessed came under investors radar after the government announced plans to infuse fresh capital into state-run lenders by September.
After a strong start, key indices maintained its tempo throughout the day and consolidated gained till end session.
The broader 50-share Nifty moved between 8,548.95 and 8,448 before ending at 8,532.85, registering a sharp gain of 111.05 points, or 1.32 percent.
Among the CNX-sectoral indices, PSU Bank topped its peers, powering by 4.69 percent. This was followed by Realty 3.06 percent, Healthcare 2.32 percent, Auto 1.88 percent, FMCG 1.83 percent, IT 1.75 percent, Bank Nifty 1.57 percent and metal also by 1.57 percent.
However, energy counter saw some selling pressure.
Major gainers included ICICI Bank, SBI, ITC, Bank of Baroda, M&M, Dr Reddys, TCS, Lupin, Tata Motors and L&T.
Notable losers were Kotak Bank, BHEL, BPCL, Tata Power and NTPC.
Turnover in the cash segment shot-up to Rs 21,358.85 crore compared to Rs 22,576 crore yesterday.
A total of 10,214.22 lakh shares changed hands in 87,20,434 trades and the total market capitalisation of NSE stood at Rs 1,01,68,561 crore.
